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E-News | September, 2008 |
Research/News |
New Assignments |
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Please enjoy our September edition of E-News. It is hard to believe that kids are back at school, vacations have been taken, and summer is over! Though economically, the news keeps us wary, we are energized as we are seeing increased activity in some market sectors, namely the multi-family investment and industrial sectors. In spite of the forecast, there are a number of positive signs indicating we may be starting to climb out of our current economic climate in Minnesota. As always, it is our goal to strengthen our relationships with you by continuing to provide the excellent client services you have come to expect from Colliers. Warm Regards, |
The Twin Cities job market continues to struggle. The total nonfarm jobs have seen year over year losses the past four months. The last negative job growth cycle ended in January 2003 which was 19 straight months of overall job losses. This mirrors the national data, which has seen year over year negative growth for the past three months. But not all the data is negative. Office-using employment is still up, albeit minimally, at 0.23% year over year. This is encouraging, since the last time overall employment fell to a negative growth, office using employment followed the same month. So far this time around, it has been able to keep growing, despite the struggles in the Financial Activities sector. Nationally the office-using sector has mimicked the overall market, which has seen losses in the past three months. This data has to be good news to owners of multi-tenant office properties. Vacancy rates have been increasing as more space comes to market in the form of both subleases and new construction, but the levels are still down compared to 2003. This will definitely be a sector to keep an eye on for the remainder of 2008 and into 2009. 
New Face: Mark Sims
We are excited to announce that commercial real estate veteran Mark Sims has joined the firm as Senior Vice President/Principal in the Industrial Division. Sims will work with the Colliers team of Duane Poppe, CCIM, Dan Terry, Jeff Pearson, and Ryan Elmer. Sims has nearly 20 years of brokerage experience in Twin Cities commercial real estate, including positions with Equity Transwestern, United Properties, and CB Commercial. Over the course of his career, Sims has completed transactions totaling more than 20 million-square feet and has supported such real estate owners as AMB Institutional Realty Advisors, Duke Realty, RREEF, Walgreens, Budweiser, Ryan Companies, and St. Paul Companies among others. New Face: Bradley Brown
We are pleased to announce that Bradley Brown has joined the firm as an associate in the Industrial Sales and Leasing division, working with David Stokes, SIOR. Prior to joining Colliers, Brown was a commercial sales and leasing agent for Langer Real Estate Services, where he helped attain the River Heights Chamber of Commerce Small Business of the Year Award two times. Brown has earned a mini-masters in investment real estate from St. Thomas University, and is a graduate of the University of Minnesota. He holds leadership positions in the Saint Paul Area Chamber of Commerce, is a Co-Chair of South Metro Young Professionals, and was a 2007 Ambassador for River Heights Gold. Brown is a member of CCIM, MNCAR, and NAR. Featured Division: Colliers Corporate SolutionsTo fill your complex real estate requirements, you need more than common vendors who can fulfill tactical requests. You need a true partner that can help you manage your commercial real estate more intelligently. With our team of experts you get the benefits of:
Colliers combines best-in-class tools and information as well as international breadth with local depth and expertise. Together, they provide that strategic guidance – not only helping you make smarter real estate decisions, but also driving bottom line results. In 2007, Colliers Corporate Solutions transacted leases or administered the portfolios of more than 22,000 locations comprised of 290 million square feet in the U.S., U.K., and Canada. Our clients include: Agere, BAESystems, Convergys, Citizens Gas, Edward Jones, Franklin Bank, Hanesbrands, Highland Bank, H&R Block, Lilly Endowment, Minnesota Department of Transportation, Network Appliance, Sara Lee, Summit Technology Center, The Kauffmann Foundation, Toyota, and U.S. Bank among many others. Our Twin Cities team is led by the efforts of the following people:
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Colliers Minneapolis/St. Paul | E-News September, 2008 | We know The State of Real Estate® |
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