After more than a decade of planning, the new Twins stadium is becoming a reality. The $522 million project is slated to open for the 2010 season. The hospitality and entertainment districts of downtown will benefit from the new development and the future expansion of the Hiawatha Light Rail line and the proposed Northstar Commuter and Southwest Corridor Lines will enhance the investment in the Minnesota Twins and the future of downtown Minneapolis.

The name of the game is opportunity. By locating the new stadium just moments from the Warehouse District, it helps to promote and support this premier area for hospitality and entertainment. Improvements to the streetscape will facilitate more traffic between the new stadium and downtown restaurants, shopping and entertainment – creating a lifestyle center that will enhance the existing elements of the area in particular. With 92% of Twins games at night or on the weekends, the momentum will continue 7 days a week, supporting the local businesses.

The stadium development will not only bring hundreds of jobs for the three year construction period, but it spearheads the development initiative to be known as Twinsville. On the 26 acre site around the stadium, look for a new transit hub, commuter rail depot, housing and retail.

When the Metrodome was developed in 1982, it failed to result in dramatic changes to the commercial real estate landscape surrounding the stadium. There is much discussion about the impact on area property values in the future, as well as redevelopment possibilities. There will also be new exposure to the public of our homeless and needy, who are served by various organizations in the area.

Twins fans across Minnesota will have an even easier time making the trip for a game, or the weekend for that matter. There are more than 60 cities within 30 minutes of the new site, and with the introduction of the Northstar Commuter and the proposed Southwest Corridor Lines that will add many more. This will give access to a greater number of fans that live farther away. No new roads required.

With the anticipated growth and excitement gathering around the new Twins stadium, there is increased speculation about Minnesota hosting another All-Star game in the future. Indeed the attraction to a spectacle of that magnitude will introduce many more to the Twin Cities, resulting in a revitalized state for tourism and convention services.

The city anxiously awaits the ground breaking and site development plans as it sits on the cusp of such a significant revitalization project. Ultimately, the success of redevelopment opportunities around the stadium will be dependent upon a total project which creates a unique experience for Twin Cities residents and out-of-town guests.

The Twin Cities are seeing strong growth in the medical office market. Much of the demand for medical office space is fueled by continuing residential and retail development in second and third-ring suburbs. This has resulted in new development, with growth in medical office condos, and several new medical office projects are underway.

There are new developments and site expansions taking place across the metro area. Almost every hospital in the Twin Cities has been enhanced or has expansion proposed for the next two years. The NW market has the most current activity with a focus on the Maple Grove area. A new hospital in Maple Grove is being built by North Memorial Healthcare, a joint venture with Fairview Hospital Systems.

Several medical office buildings are planned for the area around the hospital making the Maple Grove area a medical hub in the northern metro. Major residential markets including Blaine, St. Michael, Woodbury, Inver Grove Heights, Lakeville, Burnsville, and Northfield currently have new medical office buildings under construction as well. The medical office market can expect to see steady growth over the next three years as communities continue to expand and physician specialists try to get closer to their customers.

Westpoint Business Center
Plymouth, MN
5 Building Portfolio

Colliers was recently awarded the management and leasing of Westpoint Business Center in Plymouth by Baceline Investments, LLC. The opportunity was a result of Colliers selling the property for the prior owner, First Industrial Realty Trust for $12,250,000. Mark Kolsrud's sales team introduced the buyer to Duane Poppe, CCIM and Josh Huempfner during the sales process to discuss the NW industrial market and how to best position this property for lease. The property management team presented their recommendations for operational enhancements. Together, Colliers demonstrated how it is going to create value for this new owner.

River Road Industrial Center (Formerly BAE)
Fridley, MN
More than 2,000,000 sq. ft.

Mark Kolsrud, CPM and his team of Matt Klein and Shawn Moore represented Colliers' Investment Services division in the identification of a buyer for the building, owned and occupied by BAE Systems. The leasing team of Jeff Patterson, CRE, MCR, Chris Pendroy, CCIM and Marty Wolske brought in Jay Glasgow, an operational expert to assess the management and operational needs of the building. Together, the team, which also includes Tom Vierling – Property Manager, has continued to work through the process of turning the 2.045 million square foot building from a single tenant site to a multi-tenant investment property. The building was sold to CDC/ELT.

Loring Corners
Minneapolis, MN
100,000 sq. ft.

Colliers was awarded the management and leasing of the Loring Corners building. The property is located near Loring Park, with great exposure to I-94. Dean Freeman, CCIM, CPM – Senior Vice President – Real Estate Management Services (REMS) leads the team, with Charlie Gravelle, RPA, Second Vice President and Director of Operations, Cindy Arneson – Senior Property Manager, Tracy Wright – Property Coordinator and Brian Woolsey – Leasing Associate. This historic building, with strong neighborhood amenities and a landmark location, appeals to a creative, eclectic mix of tenants. The Colliers team is poised to take full advantage of the important location in an emerging, changing area known as Silicon Pond – due to the attraction of creative and technology-based companies in the area.

Julie Yeazle

Julie Yeazle has provided leasing and marketing services for more than 15 years in the Twin Cities commercial real estate market. For more than 8 years, she provided landlord representation services for more than 1.25 million square feet of office space, and in the past 5 years has been involved in more than 150 transactions. Prior to joining Colliers, Julie was a Senior Associate with Northco/Grubb & Ellis. Professionally, Julie is a member of MNCAR – Minnesota Commercial Association of Realtors, NAIOP – National Association of Industrial and Office Properties, and is a candidate for certification as a Certified Commercial Investment Member (CCIM). Julie specializes in office sales and leasing in the West Metro and will be involved in providing leasing services for medical office.

Casey Weiss

Casey Weiss has recently joined Colliers in the position of Junior Broker. He will be joining the St. Paul/East Metro office brokerage team headed up by Pete Dufour, CCIM. Casey was previously employed by City Brewery in La Crosse, Wisconsin where he held the positions of Marketing Assistant and Product Representative. His most recent position was General Contractor/Developer/Entrepreneur for Weiss Development, LLC. Casey is a 2006 graduate from the University of Saint Thomas where he earned a B.S. in Real Estate Development and a B.A. in Business Administration with a focus in Entrepreneurship. He has also received numerous honors and awards through his academic career including being Vice President of the UST Real Estate Society and graduating cum laude.