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….
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…
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.
A Retail Revolution: Boxpark
I just noticed that Boxpark opened up somewhere over the pond in London this past week, I had been following it for sometime. What is Boxpark? It calls itself a retail revolution. A pop-up shopping mall built out of recycled shipping containers. What a brilliant idea. The pop-up mall sits on land that has been…
Linkage: Angry Birds Retail Store and coworking is better for you than previously thought
America’s 8 worst performing retail chains via 24/ 7 Wall Street. There’s some big one’s on here folks, I’ve only shopped at one in the past few years. Trading the shrinking retail footprint via CNBC. Rovio opens up the first Angry Birds store in Finland via Techcrunch. Admit it, you’ve played the game, more than once….
Lyndale Tap House Brings The Valley Tap House To Apple Valley
Bilimbi Bay didn’t survive in the location. Major’s Sports Cafe didn’t survive in the location. The Lyndale Tap House now thinks that their pit-beef style restaurant concept will as the owner’s look to grow their retail footprint outside of Minneapolis. The new name for their second location is the Valley Tap House. Location 14889 Florence…
Vacancy around Target anchored retail developments
As Target Corporation shifts their real estate strategy given the current economic landscape – not all developments are doing well. This specific location is in the Cobblestone Lake neighborhood in Apple Valley. It has been a struggle to bring in tenants since the development came online a few years back. The businesses that do open…
Target’s real estate strategy is alive and well
I had the opportunity to sit in on the University of St. Thomas’ Executive Insight Series with Target Corporation’s Director of Corporate Real Estate David Marquis. The last one I went to featured Bob Lux from Alatus LLC. If you have never been and are a real estate enthusiast, I’d highly recommend it. I definitely…
In Minneapolis, It’s hard out there for a brewery to find space
When the “Brew Here” ordinance launched last year for breweries to finally allow them to open their doors in Minneapolis. A few have opened up in the last year with more on the way. With the recent passing of the taproom ordinance in Minneapolis – I don’t think it’s a question of when but how…
Linkage: Test City and Fence Sitters
Survey: Retailers plan to open more stores due to lower rents via Chain Store Age. Test City via ABC News. A city in the middle of nowhere New Mexico to test smart grids, renewable energy, et al. Cool. U.S. Federal Reserve Beige Book: Minneapolis District via Bloomberg. The Ninth District economy has grown slightly since…
Linkage: Google getting into affordable housing?
A taste for restaurant leases developing via StarTrib. Affordable Housing Sector Finding New Financing via Urban Land Institute (h/t Mike Cobb). Google! We’ve even witnessed Google investing in affordable housing in Minneapolis with the Riverside Plaza getting $28 million as Aegon US Realty Advisors partner up. Class-B Assets and Secondary Markets Earn Their Day in…
Linkage: The apartment onslaught continues for Minneapolis and a walk down money lane
Hand picked commercial real estate links both local and national: Apartments, apartments, apartments is the only construction development happening these days and focused on Downtown. Now it appears Schafer Richardson is trying to get into the mix with turning the Cameron Building on 756 4th St in the North Loop to market-rate apartments via Downtown…
Does this mean Surly is choosing Minneapolis?
Fresh off the signing of the Minneapolis brewpub taproom ordinance Surly makes the above announcements via their Facebook page. Have they already found a place in Minneapolis? There are not too many places they can go. As far as commercial real estate goes, this will be a fun project to watch be developed over the…
Minneapolis passes the taproom ordinance, how many will we see?
I’ve known about this for a few days because I have a client that is looking at taking advantage of the new brewpub taproom ordinance in Minneapolis but now it appears that it is official per Mayor RT Rybak’s blog: I was very happy today to sign a new City ordinance that will allow local Minneapolis brewers…
Health Clinics and Malls
The Mall of America has some of the healthiest tenants from a landlord’s persepective, now its actually adding a health clinic. The MOA has also seemed to buck the downturn – just go there on weekend day to find out why. From the Star Tribune: The internationally known medical center based in Rochester gave reporters…
Retail upbeat but not quite there
Retail outlook from this year’s ICSC REcon
The “real” reason Wal-Mart is looking for downtown Minneapolis space
Not sure I can envision a Wal-Mart anywhere in downtown Minneapolis and I know I’m not the only one, but nonetheless there are some rumbling’s that they may be looking for space somewhere in or near downtown Minneapolis. They aren’t alone in the idea of dumping the super center retail footprint as Target has also…
Around Town: Burger Jones Goes Suburban In Burnsville
Burger Jones is taking it’s urban burger joint to the ‘burbs. Parasole Restaurant Holdings continues it’s expansion of well-known dining establishments into the under served Burnsville market area into Aurora Village Shops along County Road 42. Living in this area, this is something that is badly needed. A successful, local restaurant company to open up…
Cupcake retailing alive and growing, fast
Cupcake wars are alive and well as boutique retailers catering to this specific niche are popping up all over the place, even here in the Twin Cities area. A perfect idea for a small business and a good tenant for landlords. A simple Google search produces these quick results (I’m probably missing a few): Cake…
Are pop-up shopping centers the future?
My good friend Duke Long and partner in crime for crePodcast forwarded on this video of the first ever “pop-up shopping center” that is starting to take fold over in England. Introducing: Boxpark Is this the future and will this idea make it across the pond? As the retail industry faces change, it’s fresh ideas…
The Shakeout In Retail Real Estate
I recently had the opportunity to record a podcast with Doug Stephens, he is the President of retail consulting firm call Retail Prophet. He is widely reguarded thourghout the industry as the only futurist. Between the “over-retailing” and the shrinking of the brick-and-mortar locations, retail is in for a shake up. If you own a…
Speculation office and retail building returning to Minneapolis?
A speculative development move coming to the Uptown area in Minneapolis? It appears so as the MoZaic finally figures out what it is going to be. MoZaic in Uptown has been trying to get off the ground for years as it was suppose to be a condo, then hotel, then market-rate apartments (maybe not in…
Does the West End in St. Louis Park need another restaurant?
Update: There was an article in the StarTrib that shows that the restaurant will be called Sopranos Italian Kitchen. The owner of the eatery is known other than Kam Talebi, which also runs the fast growing Crave restaurant chain. Just as two restaurants close their doors (Ringo’s and Sauce Pizza/Wine bar) in the final quarter…
Is retail at or near bottom in Minneapolis?
Not all malls are operating at capacity around the Twin Cities. There are plenty of vacant strip malls in outlying suburbs that still have multiple empty store fronts. It still has to sting if you own retail investment property. Although it is good to hear places like the Mall of America, Burnsville Center and destination…
Pollo Campero Opens In St. Paul
Looks like a new restaurant concept is going to open up in West St. Paul off of Robert street. Pollo Campero is a Latin chicken quick service restaurant (QSR) that operates globally and is opening it’s first restaurant in Minnesota. I received this press release yesterday: Pollo Campero’s legendary Latin chicken is making its first…
Restaurant Performance Index Highest In Three Years
The Restaurant Performance Index is at it’s highest in three years and comes it at 100.7 (anything above a one hundred signifies expansion). What this means are consumers might becoming more confident as dining for most is a discretionary expense.
Podcast with David Bodamer of Retail Traffic Magazine
I recently sat down with David Bodamer of Retail Traffic magazine to discuss trends in the retail industry. He had some great talking points about commercial real estate and also went over some of the Urban Land Institutes emerging trends report. Have a listen over on crePodcast.
New Burger Joint Coming To Apple Valley
Driving through Apple Valley today I noticed a new restaurant that is stepping in after the failed Homemade Pizza Company and where Starbucks was. This is an interesting corner being how packed the neighborhood retail center is but whatever goes in there seems to never succeed. You have a large anchor tenant(s) in Rainbow, JoAnn…
Retail Stabilizing In Minneapolis?
Here is the latest report from Marcus and Millichap (link – may have to subscribe) giving their forecast of the Minneapolis-St. Paul retail market. And recent reasons to be optimistic are the September store sales top expectations. Although only 28 national retailers are tracked. Reasons for stabilization: 400,000 square feet will be completed versus only…
Would You Pay $1000 A Square Foot For Retail?
Fast forward to 1:20 to hear about Bond Street in London pushing $1000 a square foot for retail space. Well at least it’s not 5th Avenue in New York which is the world’s most expensive, retail space there can get up over $2000. That begs the question, as a business owner… how much would you…
Retail In The Suburbs Hurting
Just driving around yesterday and stumbled across some major retail strip centers in the south suburbs. Most are located on busy roads (~30k vehicles a day). I know these aren’t the only ones out there and most cities around the Twin Cities metro are peppered with retail strip centers that have plenty of vacancies. One…
The Gateway To Edina, Burgundy Place Condos and Retail Space
In Edina off 4910 W 77th Street is Burgundy Place Condos, a new mixed use commercial real estate development that offers retail lease space on the first floor along with 36 condominium units. The building was recently finished off at the end of 2009 and is probably just itchin for tenants at this point. The…
Two Vacant Properties In Fischer Marketplace
Found two great properties in Apple Valley in Fischer Marketplace located along County Road 42 yesterday when driving through the city that have been sitting empty. One big box retailer just opened up last year but they built their own space. One space is an end-cap space with over 11,000 square feet while the other…
Commercial Retail Real Estate Vacancies In Rosemount
Just like other suburbs in the Twin Cities, Rosemount has seen it’s fair share of commercial real estate vacancies over the past few year as the market chugs along the bottom.
