|
|
Please enjoy our March edition of E-News.
Whew! I know, this is not much of a technical description, but it is the best word I could come up with to describe our year. Needless to say, it has been a busy year full of highlights, change, and – yes – a few challenges. Through it all I am extremely pleased with the growth of our company over the last three years. This growth can be attributed to numerous factors, but can be summed up as a lot of hard work by our teams and a number of new relationships in our institutional, corporate and entrepreneurial sectors. We are committed to being the very best service provider the Twin Cities and surrounding region has to offer.
As the holidays arrive, we especially want to thank you for your trust in us! We commit to never taking this for granted, continuing to work to strengthen relationships, providing greater financial results for you and your companies. We wish you and your families the best of holidays.
Warm Regards,
Jeff LaFavre, CCIM, MCR, SIOR
|
|
|
Minnesota Medical Research
By Jim Mayland
Minnesota has long been a leader in medical research and bio sciences. The University of Minnesota is the sixth ranked public research university in the nation. The Mayo Clinic in Rochester has been on the leading edge of medical research since the late 1800’s, and they continue to grow to currently include more than 1,700 doctors and scientists. In January Mayo announced they will partner with IBM to build a new research facility for medical imaging. Earlier this month Coloplast, a Denmark-based company that develops healthcare products, broke ground on a 178,000 SF office, research, and development facility in Minneapolis. This will go along with their 82,000 SF manufacturing site in Mankato. The new facility will be the new US headquarters, formerly in Atlanta, and employ 500 people.
Add to this the Minnesota Innovation Center, which is a University-related research and technology park located near the University of Minnesota. The first phase of the development will be 251,000 SF on 11 acres, ultimately with 1.6 million SF on 65 acres.
These are just a few of the new developments that will provide job growth to Minnesota. When comparing year over year medical manufacturing job growth to manufacturing and total job growth in the Twin Cities, it has been substantially higher over the past five years. As with most employment, the job growth has slowed over the past year, but the medical growth rate is still substantially above the Twin Cities average for all jobs.
What exactly does this mean for the Twin Cities and commercial real estate? Medical research at the U of M, Mayo Clinic, and private institutions is critical and is the “driver” for the growth of the life sciences sector. These types of jobs are continuing to grow while manufacturing continues to shrink and become less reliable. From a real estate aspect, these jobs will require a higher percentage of office space than typical industrial buildings. They will also require substantially more parking. Finally, they will require higher tenant improvements for their special purpose activities, such as increased plumbing, managing air in the spaces, and needs for clean room space. This could be a possible use for many of the now vacant office warehouse buildings in the metro area.
Colliers continues to promote our research as a valuable tool for you, our clients and friends. Click here to view the 2008 US Real Estate Review from Colliers International, written by Ross Moore, Senior Vice President of Market & Economic Research.
|
Industrial
Finding space isn’t an issue - finding the right space for your business is.
The trusted industrial experts at Colliers Turley Martin Tucker can partner with you to find space, or lease or sell your properties, based upon your specific criteria. We serve as the leasing and marketing agent for single- and multi-tenant industrial properties, balancing the complexities of the owner’s investment criteria with leasing requirements, tenant retention, and building operations.
Our market knowledge and proven process provide you with:
- Complete analysis of market conditions critical to positioning a property, and evaluating sale or lease terms
- An extensive proprietary database of industrial properties, active prospects, and comparable transactions
Partnering with our experts provides you with:
- Personal assessment of your unique real estate requirements and goals
- Up-to-date and complete information concerning availability, specifications, incentives, and future projections
- Personal assessment of your unique real estate requirements and goals
- Real-time market and financial analysis to facilitate well-informed decision making
- Expert negotiation skills to achieve the best market rates, prices, and terms, within an efficient time frame
- Analysis of regional choices for manufacturing and distribution, with compilation of market rates, incentive opportunities, local tax and employment climates, and demographic comparisons
- The process to achieve tax abatements and other incentives, where applicable
- Build-to-suit construction consulting
For information on how Colliers’ Industrial Sales and Leasing professionals can meet your real estate needs, contact the Industrial team.
|
|
 We are pleased to announce Dan Terry has joined Colliers as a senior associate in the Industrial Sales and Leasing division. Terry will work in partnership with Duane Poppe, CCIM, Jeffrey Pearson, and Ryan Elmer on industrial projects in the Northwest Metro.
Prior to joining Colliers, Terry spent five years as an associate with CB Richard Ellis in their Industrial Brokerage Services Group, where he worked in the Northwest market. Terry began his career in sales with Stringer Business Systems, where he was the top producer in the commercial division of printer/copier sales for two years.
Terry is a 1996 graduate of Hopkins High School, where he was a standout hockey player. For a short time after high school, he played for the Billings Bulls hockey team in Billings, Montana. Currently, he is a member of the Minnesota Commercial Association of Realtors (MNCAR) and is a Certified Commercial Investment Member (CCIM) candidate.
|
Colliers Represents Beltmann Company
 (Minneapolis, MN) Duane Poppe, CCIM, Jeff Pearson, and Ryan Elmer, with the Industrial Sales & Leasing division, represented Beltmann Company in the sale of 17,000 SF of industrial building located at 5606 NW. 100th Street, valued at $1.7 million to KC Holdings. Following this sale, the team represented Beltmann Company in the lease of 19,674 SF of office space located at 4151 Dixon Ave in Des Moines, IA.
|
Colliers Represents LSI Inc. in lease
 (St. Paul, MN) Mark Stevens, Martin Wolfe, and Anna Engstrom with the Office Sales & Leasing division represented LSI Inc. in the lease of 72,231 SF of office space located at 1230 Northland Drive, valued at $4.8 million to Mendota Office Three & Four LLC.
|
Horseshoe Bay Resort
 Colliers is currently listing the Horseshoe Bay Resort, located 190 miles from the Twin Cities Metro. This site boasts 40 acres of land, including 3000 ft of prime shoreline with sandy beaches and a marina with roughly 70 boat slips. The resort also includes 20 deluxe condominiums at 2,600 SF each, a reunion center with conference hall and two large family kitchens, three cottages, meeting facilities, and a restaurant/bar.
Ted Leines of the Hospitality division is representing the property.
|
Minnesota Innovation Center
 Colliers has been retained by Minneapolis-based The Wall Companies to market and pre-lease the Minnesota Innovation Center, a new research and development facility that will provide premier office, laboratory and manufacturing space to firms in medical, life science, and information technology industries.
The Center is conveniently located mid-point between downtown Minneapolis and downtown Saint Paul, one block from the University of Minnesota’s Minneapolis campus and directly on the University Transitway, the University’s intra-campus bus line.
The leasing team includes David Stokes, SIOR, Marty Wolske, and Mark Stevens.
|
|
|
