Dear Clients and Friends:
Is it truly August already? In our late summer issue of E-News, you will find an excerpt from the Colliers 2006 Retail Study, a profile of one of our Industrial Sales and Leasing teams, an overview of recently completed assignment in Corporate Solutions, a Real Estate Management Services new assignment, as well as introductions of our newest professionals in brokerage and real estate management. We are energized as we're experiencing so much growth and success as a company, and we are pleased to have the opportunity to share these things with you. As always, we are here to assist you with any of your commercial real estate needs. Warm Regards,
Jeff LaFavre, CCIM, MCR, SIOR |
August 2006  Ross A. Moore, Senior Vice President, Market and Economic Research, Colliers InternationalDiscount retailers and restaurants remain the two most active retailers. – Expansion amongst discount retailers and restaurant chains continued unabated ranking one and two in our listing of active retailers. Rounding out the top five were drug stores, banks and grocery stores. Absent from this year's top five list were home improvement and home furnishing retailers possibly reflecting a more sluggish housing market. Picking up on one of retail's major themes is the growth amongst high-end and low-end retailers with the middle feeling downward pressure. Warehouse retailers, such as Costco, continued to reflect this trend with steady sales growth while luxury retailers such as Nordstrom's, Neiman Marcus and Coach also posted healthy sales.
Three quarters of US cities report growing urban retail marketplace. – Reflecting a whole range of macro economic and demographic factors, retailers are increasingly targeting downtown, or urban locations to grow sales. While not turning their back on suburban retail, retailers are
choosing to open new stores in an urban environment in an effort to capture retail spending from two important groups: baby boomers and echo boomers. Both groups are gravitating to downtown residential condominium living with the advantages of little or no commute and easy access to a variety of services. Internal findings show 75% of metropolitan areas across the country show urban retail continue to grow while 18% indicated little change and only 7% show urban retail on the decline. Some surprising cities enjoying a renaissance in downtown retail include Atlanta, Dallas, Denver, Kansas City, Los Angeles, Minneapolis, Phoenix and Sacramento.
Click here to download the entire Retail Report (pdf)
Retailers Ranked by Activity 
Source: Colliers Research • NB: Based on 42 Metros (US Only)
Featured Team:
Colliers Industrial Services Group
In this issue, we are featuring the team of Duane Poppe and Josh Huempfner
Duane Poppe, CCIM and Josh Huempfner began teaming in 2005. In that year, they sold 77.64 acres of land and sold/leased 587,473 sq. ft. for a total consideration of $14,953,688.
Duane Poppe, CCIM
Duane Poppe joined Colliers in 2001 following a six year career as an investment executive with Piper Jaffray. During his time with Colliers, Poppe has risen as a leader in the Industrial Sales and Leasing division, and recent professional accomplishments have included the 2005 MNCAR Rising Star Award, the Colliers Rising Star and Colliers Dorsey Circle of Excellence Awards.
Poppe's real estate marketing expertise and strong financial background make him a valuable member of both the Industrial Services and Corporate Solutions groups. His knowledge of the metro area gives him a keen understanding of the Twin Cities industrial market. His expertise in financial analysis and project marketing proves invaluable when serving his clients. Poppe received his Bachelor of Arts degree from Concordia College in Moorhead, MN. He is currently a member of MNCAR – Minnesota Commercial Association of Realtors, NAR – National Association of Realtors, Lions International and is a Certified Commercial Investment Member (CCIM).
Josh Huempfner
Josh Huempfner began his career in finance with Merrill Lynch in 1995 and with Dain Bosworth, Inc from 1996-1998. Prior to joining Colliers, he was an associate in the Industrial Group for four years with the Grubb & Ellis Company. Huempfner joined Colliers as an associate with the Industrial Sales and Leasing division in 2002, being promoted to Senior Associate in 2004. He is a graduate of the University of Wisconsin-Madison, with a Bachelor of Business Administration degree with majors in both Real Estate & Finance. Huempfner is a member of EDAM – Economic Development Association of Minnesota, MNCAR – Minnesota Commercial Association of Realtors, MNCAR Technology Committee, NAR – National Association of Realtors, NAIOP – National Association of Industrial & Office Properties, NAIOP Public Policy Committee, WAA – Wisconsin Alumni Association and WREAA-Wisconsin Real Estate Alumni Association.
Updates: Brokerage
New Faces
David Stokes
| David Stokes, SIOR, joins Colliers as Vice President in the Industrial Division, focusing on sales and leasing in the East Metro. Stokes has worked in commercial real estate within the Twin Cities for more than 20 years and was most recently Vice President at Welsh Companies. He is a member of the National Association of Industrial and Office Properties (NAIOP), Minnesota Commercial Association of Realtors (MNCAR), Saint Paul Area Chamber of Commerce, Manufacturers Alliance. Stokes is Vice Chair of the board of directors for Midway Chamber of Commerce and is a founding member of St. Paul Business Ventures & a non-profit seed capital company. He received his Masters Degree in City Planning with a Real Estate Finance emphasis from the University of Pennsylvania and holds his Real Estate License in Minnesota and Wisconsin. He is a member of the Society of Industrial and Office Realtors (SIOR).
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 Mark Stevens | Mark A. Stevens has joined Colliers as a Senior Associate with the Office Sales and Leasing Division. His area of focus will be sales and leasing in the Southwest Metro, and will team with Marty Wolfe and Anna Engstrom. For the past four years, Stevens was an associate in office brokerage with United Properties, and prior to this he worked in sales and sales management for Hallmark and Teksystems in California. He is a member of the National Association of Industrial and Office Properties (NAIOP) and the Minnesota Commercial Association of Realtors (MNCAR). Stevens is a graduate of Iowa State University, with a B.A. in Communication Studies. |
Updates: Corporate Solutions
Completed Assignments
Viracon (Apogee)
Viracon site rendering
Viracon groundbreaking: Colliers team from right is Kathleen Culp,
Jeff Patterson, and Jacob Sidon
Client: Viracon, Incorporated – a division of Apogee Enterprises, Owatonna, MN Viracon asked Colliers to assist in the analysis, selection and procurement of an optimum site for the location and development of a new $26 million glass fabrication plant in the Southwest region of the United States.
The Colliers Team: Jeff Patterson, CRE, MCR, Director of Corporate Solutions with Colliers Turley Martin Tucker's – Minneapolis/St. Paul office (Project Manager), Kathleen Z. Culp, Senior Vice President of Colliers Turley Martin Tucker – Indianapolis' Economic Incentives division and Jacob Sidon, Consultant – Location Advisory and Incentives Practice with Colliers-CMN out of Toronto, Canada.
Services Provided: The team worked to map dispersal of current and prospective customers, suppliers, distributors and vendors in an 11 state area of the western United States; they also identified an optimum search area that included 5 states, focusing on transportation cost analysis to determine the search area. Candidate cities and communities that could support the proposed facility were identified, and the team performed real estate site acquisition services on behalf of the buyer. Finally, they assisted and coordinated the application and award of a significant financial incentive package from the final community selected for the manufacturing facility.
Significant Challenges: Initial models suggested that 35 cities, towns and communities could viably support the proposed plant, and Colliers worked with the client to pare that list to 8 optimum sites prior to any community visits. Following 3 extensive trips to final candidate cities, Colliers assisted the client to secure "best & final" proposals from Tucson, Arizona and St. George, Utah.
Value Provided by Colliers: The Colliers team saved hundreds of analytical hours for client senior manager and decision-makers through detailed research and analysis of communities in search area. They successfully negotiated and worked to pare down prices as well as estimated land acreage necessary to complete the project, thus saving the client $900,000 in land costs. Colliers worked to procure a total of $1,750,000 in economic incentives for the client, granted from the State of Utah and the City of St. George. The economic incentives were awarded in the form of tax abatements and new employee hire training grants.
Updates: Real Estate Management Services (REMS)
New Faces
Julie Nelson
| We are pleased to announce that we have hired Julie Nelson as a Property Coordinator for First National Bank Building. Julie has held positions in commercial insurance, event planning, leasing, marketing and property management. Her most recent position was as an Assistant Property Manager/Marketing Coordinator with Paramount Real Estate. Julie received her B.S. and B.A. in Mass Communications and English respectively, with a minor in Photojournalism from Moorhead State University. She has also completed coursework in Investment Real Estate: Financial Tools. |
New Assignments
Evergreen Industrial Building 3
Evergreen Industrial Building 7
Colliers recently facilitated the sale of the Evergreen Industrial Portfolio, which includes 14 industrial and retail buildings in Roseville, Arden Hills, and Shoreview totaling nearly 750,000-square feet.
Colliers was initially retained to market and sell the portfolio. The properties were acquired by Evergreen Industrial, a Chicago-based investor, who purchased the properties and then retained Colliers to manage and lease them. Colliers' Mark Kolsrud, CPM, facilitated the sale. Colliers' Charlie Gravelle and Chris Courneya will oversee management of the properties; Josh Huempfner and Duane Poppe, CCIM will oversee leasing.
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