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NEOO In the News: Former Thor developers start their own firm (Biz Journals Online)

D’Angelos Svenkeson and Denetrick Powers left Thor Cos. to start their own business in December. They're carving out a niche helping small businesses in diverse neighborhoods.

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A year ago D’Angelos Svenkeson and Denetrick Powers were working for the fast-growing Thor Cos. on their project to redevelop the Upper Harbor Terminal in North Minneapolis along with United Properties and First Avenue.

In December, they left Thor to start their own firm, NEOO Partners Inc., with a focus on helping small and medium-size businesses with their real estate needs. Thor has since shut

down in the face of lawsuits from creditors and subcontractors, but many of its former employees have gone on to start their own firms.

Svenkeson and Powers’s first hire was development associate Todd Austin, who studied urban planning with Powers at the University of Minnesota Humphrey Institute. Today St. Paul-based NEOO has 10 clients and the founders anticipate growth, both as a tenant advisory firm and as a consultant to business owners, developers, nonprofits and governments. They’ve also assisted Metropolitan Transportation Network, a Fridley-based transportation company, on its development and construction of a 65,000-square-foot facility in Northeast Minneapolis.

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