Blog
Dangerous Man Brewing Co. Signs Lease For Northeast Bank Building
Congratulations to client Dangerous Man Brewing Company on recently signing a lease for 3200 sq ft for their “one-of-a-kind” taproom in the Northeast Bank Building. You may remember back in the fall when they were in the press and fought to get an ordinance changed to be able to open their brewery in Northeast Minneapolis….
Linkage: Smaller Markets Present Big Opportunities
Here’s what I’m reading for the week: Follow the technology via WSJ. Tech companies are the new Wall Street tenant as commercial real estate brokers look to represent them. Can your business be sold? via Inc. The hot spot for the rising tech generation via WSJ. LEGO Denmark Office – Version 2.0 via Office Snapshots….
42floors: The Better Way To Search For Office Space
Searching for commercial real estate listings as a user in its current form is archaic and down right difficult to find any information. Enter 42floors. They are looking to disrupt this space that has been dormant for way too long. What I really like about 42floors is the founder, Jason Freedman, who I’ve had the…
Linkage: End Of The Mancave And Real Estate Developer Crowdsources With Facebook
Here’s are the links that I’m reading: Five MN Cos Among “World’s Most Ethical” via TCBMag. Core, Distressed, Debt and Opportunistic Private Equity Funds are Seeking CRE Investment Opportunities via NREI. Death of the Mancave (1992-2012) via LA Times. The World’s Coolest Staircases via BBC. Sunglass Uses Open-Web Standards To Bring Architectural Drafting Into The…
Fast Casual Restaurants Is A Hot Restaurant Concept
Perhaps you’ve noticed quite a few new restaurant concepts come into the area recently. Restaurants that have abandoned the drive-thru that has been a fixture on fast food restaurants for the last half century. Fast casual is a restaurant concept that doesn’t provide full table service like a sit-down restaurant would, however, it does offer…
Apple’s Cash
Simply put, it just seems that Apple can’t miss. At anything. Their stock has been on fire since the death of Steve Jobs and people just can’t stop buying their beautiful products. Even myself. The company has sold 3 million iPads in just three friggin’ days! Most of the people that made the purchases probably…
MNCAR 2012 Annual Market Report
MNCAR has come out with their annual market report and have highlighted a few of the asset classes in the report. Its a quick read and gives you a good idea of what is happening in the local market. Office Market Every office market experienced positive absorption except for the St. Paul central business district…
Property owner of Capella Tower now thinking it maybe time to sell
The BizJournal is reporting (must be subscriber for full article) that the ASB Capital Management – property owner of Capella Tower, you know the “halo building” is thinking about putting the property on the market. Didn’t I just mention the other day that you shouldn’t be surprised if more office buildings in downtown Minneapolis would go up…
Get out of my way, we don’t need you!
“I’m fine, I don’t need any help” is another common phrase that I mutter when a salesperson approaches me. I’m a man with a plan when I venture into a store. Get in and get out as fast as possible with as least amount of interaction as possible. This trend seems to be increasing across…
Linkage: Apartments Lose Luster and Apple’s New Deets on Corporate Campus
Here are the only links that matter, the one’s I’m reading! Apple provides additional details, renderings for it’s Cupertino campus project via Apple Insider. This will be the best corporate campus around! Top Cities for Runners via Forbes. Of course, Minneapolis-St. Paul area makes the list. Why wouldn’t it? Just because the ground maybe frozen…
Bid On An Office Tower
Here’s yet another chance for you to own a downtown office tower in Minneapolis for maybe pennies on the dollar. The BizJournal is reporting that Fifth Street Towers is scheduled to be on the auction block at the Hennepin County Sheriff’s office on April 19th. Makes sense that the lender no longer is wanting to…
Listed: Office Condo In The Maple Leaf Ridge Business Center
Maple Leaf Ridge Business Center is located along busy HWY 61 in Maplewood, MN. This property is for sale or lease. Built in 2006, this is one of the newest class A office properties in the area and is a perfect fit for a variety of different uses. Features Highly visible street frontage with signage…
Leap Day
I missed out on Leap Day this year as I was boarding a plane for a much needed vacation. I stumbled upon this video of Red Bull Air Force and their festivities for leap day including freestyle base jumping off of four different commercial properties from across the country.
Honeymoon
Taking the next week or so off. A delayed honeymoon from getting married in September means I’m somewhere in the Caribbean on a white sandy beach or doing some deep sea fishing! flickr photo cred: Simon Cast
100 square feet or smaller
The space around your work environment may be getting a whole lot smaller over the coming years. Maybe you have already noticed the decline as you and your coworkers jockey for elbow room on the latest work and greatest work station. You may find that the office walls will be closing in on workers in…
Downtown Employment Up 15% Over Last Year For Biggest Employers
From the BizJournal: The 15 largest employers in downtown Minneapolis have added thousands of employees to their payrolls over the last year. The Minneapolis Downtown Council says those companies employ 49,491 people, up 15 percent from a year earlier. flickr photo cred: gomattolson
Linkage: Amazon Buying Up Blocks Of Real Estate
Curating the best links from around the web: Amazon Acquires Blocks In Seattle via WSJ. Companies could learn a few things about Amazon and how they have created a behemoth of an online retailer. LinkedIn’s Offices In The Empire State Building via Business Insider. Record-breaking lease deal rumored on Fifth Avenue in New York City…
Pinterest and Commercial Real Estate
Stop with the Pinterest madness already. Sure the site drives a lot of traffic but I highly doubt anyone that is on Pinterest is looking for commercial real estate brokers. So you can probably stop wasting your time if that is the only reason that you are on the site and it is nothing more…
Hey look, more apartments for the North Loop
From the StarTrib: The 106 units is in addition to nearly 1,000 apartments under construction, or near construction, in the North Loop neighborhood, a once-gritty warehouse district that connects the downtown central business district with the Mississippi riverfront. Because of its prime location and abundance of redevelopment opportunities, the neighborhood is a hotbed of development…
Rent Is Too Damn High Guy, Again
We all remember the “rent is too damn high guy“, right? Here he’s at it again. One thing that hasn’t been clarified clearly enough is if it is commercial rents or residential rents that are too damn high… I’m going to lean with the latter.
Construction on Radisson Blu Mall of America
I pass the Mall of America everyday and have been watching the progress of the new ultra luxe Radisson Blu hotel being constructed. I can see the cranes towering above the treeline from Eagan and Cedar Ave as I cross over the Minnesota River. The Radisson Blu line of hotels is part of local company,…
What I Do
The meme “What I do” has to be one of the most annoying meme’s in the history of meme’s. Then I found the one for commercial real estate… (h/t Duke Long)
Linkage: Coolest Shopping Malls and $2 Million Commission Disputes
Here’s what I’m reading. The best curated links from across the web in regards to commercial real estate. Coolest shopping malls via Business Insider. Walmart and Target Retail Stores Give Amazon A Brick and Mortar Footprint via PRweb. Jones Lang caught in $2 million leasing dispute via The Real Deal. I almost live for the…
Having trouble finding office space in Minneapolis on the 25th floor or above?
You wouldn’t be the only one then. According to a new office market report released by Colliers, office space above the 25th floor in downtown Minneapolis towers of the central business district has just a 3% vacancy rate! Most of the available space is non-contiguous as well – meaning it’s scattered and not available in…
Spec Office Building Lands First Tenant
Word is, the speculative office development Mozaic located in the Uptown area of Minneapolis – has landed it’s first office tenant. It announced last fall that it had a committed tenant for it’s ground level retail space with restaurant Bar Louie, now it has it’s first office tenant to go along with the retail in….
I wish I remembered How I Did This
A few of my websites rank extremely well in Google. One of them, my personal site that is basically just a landing page with different links to social profiles and other websites shows up in the Google search results with my Google+ profile. Does Google link this automatically or did I set this up myself…
Linkage: A Pop-up Hotel and Carlson Real Estate Companies Looks To Sell Portfolio
Just Launched: Eventup, an online marketplace for venues and event space via The Next Web. Finally a site so people to don’t call commercial brokers looking for one night rentals! How can you build a smart city? via FastCo Exist. Slab City: This abandoned military base in the middle of the desert is home to…
Every CRE Broker Needs To Learn How To Code
Sitting in on some training from MNCAR (Minnesota Commercial Association of REALTORS or Minnesota Commercial Association of Real Estate, depending on which one you belong to. Confusing, I know) the other day, it amazes how little commercial brokers understand about computers and internet. MNCAR recently took a step forward by switching to ePropertyData – a…
According to NAR, Sales Volume Down In 4Q For Minnesota
No surprise here, but 4th quarter commercial real estate sales volume is down across the board – including Minnesota according the most recent survey by NAR. A few highlights from the report included space under 5,000 square feet accounted for over 70% of the demand. Financing, the economy and pricing gap between both buyer/seller continue…
Linkage: A Brewery Reborn And Crazy Ideas For Strip Malls
Commercial real estate perks up via StarTrib. More Americans are realizing they can do all their shopping at a dollar store via Business Insider. Just about every dollar store chain is expanding. Good news for investors that own these net-lease assets investments. Photographs of Impossible Architecture by Filip Dujardin via Feature Shoot. Now if only…
Loopnet’s mobile traffic grows 6x year over year
As more and more commercial brokers figure out what the Internet is, they are bound to also figure out how to use apps on mobile devices. In an email today, Loopnet is reporting that their mobile traffic has grown 6x over the past year. Clearly the shift has come to CRE and will continue to…
Amazon going bricks and mortar?
Amazon.com, the online internet retail giant is said to be opening it’s first bricks and mortar physical store in Seattle. The move only makes sense as the company has expanded it’s core offerings of just books over the past decade into just about anything one would ever need. Although the early reports suggest the retail…
Linkage: Drone aircraft use by REALTORS® and Tony Hsieh’s new project
Goodbye home office, hello coworking via Globe and Mail. Multifamily sector is thriving via StarTrib. This article is about 2 years behind, tell us something we don’t already know about the local apartment market scene. The urban markets have been going strong during this time period, now the suburbs are starting to catch up with…
Are you part of the one of the 10,000 or more single tenant net lease sales per quarter?
Single tenant net lease transactions is at an all-time high according to CoStar. Sales of these types of commercial real estate investments have averaged more than 10,000 transactions for the last few quarters. Net lease investments remain one of the hottest investments in the country. Being fueled by low interest rates and investors appetite for…
Minneapolis not one of the thirty cities that get over half of the commercial real estate investment dollars
We knew this was coming. Thirty cities get over half of all the commercial real estate investment dollars in the global economy and Minneapolis is not one of them. Neither is St. Paul for that matter. The list as follow: London $43 billion Tokyo $32 billion New York $27 billion Hong Kong $18 billion Paris…
Linkage: Target fights “showrooming” and Starbucks uses ship containers
Collaborative Workspaces: Not all what they are cracked up to be via The Atlantic Cities. Over the past few years, the changing of office space or work space has been mentioned more times than I can count. There have been numerous coworking spaces pop up and they work, for that certain type of individual and…
Minnesota among tops in the nation for LEED Certification
Minnesota finds itself on yet another top ten list. This time, it revolves around commercial property. The U.S. Green Building Council recently released it’s list of states with the most green buildings and institutional properties on per capita basis, based on 2010 U.S. census data. Minnesota had 9,591,445 of square feet to earn LEED certification…
Another Innovated Pop-up Retail Concept
I love innovative retail ideas. I’m so sick and tired of the same damn scene at every shopping mall or neighborhood strip center. Taking the pop-up store idea one step further: Popuphood. Watch this and let this be the new standard.
The Same Tune
Articles like this from the StarTrib are nothing new. This tune has been the same for the past few years. Despite hopes that commercial real estate will break out of its protracted slump, local experts say 2012 will be much like last year. The consensus is that we’re in for a long, grind-it-out recovery with…
