E-news | April, 2008
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
Research: Q1 Research Report
To B(uild), Or Not To B(uild): The Twin Cities office market shows a rise in vacancy, especially in sublease space, and negative absorption across the board. What is on the horizon, as sublease space is competing directly with new construction? There is still a fair amount of activity in the market, and many large tenants are trading spaces downtown Minneapolis.
Click here for the Q1 Office Report.March Madness: Ominous signs continue, as the New Year has started off on a slow note for the Twin Cities industrial market. Absorption is negative for the first quarter; the number of vacancies, and the size of spaces available are increasing. The asking prices for buildings on the market for sale are coming down, and manufacturing continues to have negative job growth.
Click here for the Q1 Industrial Report.Retailers Apply The Brakes: It is off to a flat start for retail in 2008. Vacancy for retail held steady in the first quarter at 5.3% vacant market wide. One area of concern for retail is the restaurant business, which has been hit hard in the past year or so. Another area of concern for many is the continued health of retail in downtown Minneapolis. But not all the news is bad, as some area malls have been able to attract new tenants and revitalize themselves.
Click here for the Q1 Retail Report. To view the full Q1 Report, click here.New Assignments
Featured Division: Retail
Our Retail Sales and Leasing professionals are experts at matching increasingly sophisticated retail environments to business needs that are complex and often industry-specific. Whether you want to relocate, renew, build, expand, buy or sell, we put our expertise and in-depth market knowledge to work for you.
For information on how Colliers’ Retail Sales and Leasing professionals can meet your real estate needs, click here or contact the Retail team.
Completed Transactions
Colliers Represents Beltmann Company in Sale and Lease
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.
Contact Duane, Jeff or Ryan for information.
Colliers Represents LSI Inc in Office 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.
Contact Martin, Anna or Mark for information.
