Advisory Panel Meeting #4 Presentation
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January MSCA Backup12.40
2006 Corporate Sponsors American Engineering Testing, Inc. The Avalon Group Barna, Guzy & Steffen, Ltd. news Bremer Bank, N.A. CB Richard Ellis Volume 20, Number 1 January 2006 CSM Corporation Cambridge Commercial Realty Colliers Feature The Collyard Group, L.L.C. What Every Real Estate Professional Should Dalbec Roofing Know About New Market Tax Credits Fantastic Sams General Growth Properties, Inc. by Tony Pasko, Bremer Bank, N.A. Great Clips, Inc. hat if you could borrow 100% of the New Market Tax Credits (NMTC) came into Griffin Companies cost of developing or substantially being in December of 2000 as part of the renovating your new shopping Community Renewal Tax Relief Act of 2000. H.J. Development, Inc. W center project, only pay debt service on 70% These tax credits are intended to stimulate J.E. Dunn – North Central and have the government pay a return on the investment in “low income communities” as Jones Lang LaSalle remaining 30%? While it may take some time defined by census data. While NMTC’s are and effort, New Market Tax Credits can help directed at businesses, many commercial KKE Architects, Inc. you do just that. Landform Tax Credits continued on page 2 Larkin Hoffman Daly & Lindgren Ltd. M & I Bank Madison Marquette Snapshot Messerli & Kramer, P.A. Shops at Plymouth Creek – Lot 5 Midwest Maintenance & Mechanical, Inc. Location: Southwest Corner of Project Morcon Construction Entrance at Hwy 55 and Vicksburg, Plymouth Northstar Partners/Cushman & Wakefield Month/Year to Open: Under Construction. Oppidan, Inc. Anticipated Tenant Delivery: April ‘06 Opus Northwest LLC Lot 5 Ownership: Plymouth Creek PCL Construction Ventures, LLC Park Midwest Commercial Real Estate Underlying Owner: CSM Corporation Paster Enterprises, LLC Lot 5 Developer & Managing Partner: RLK Incorporated Mosborg Ventures, LLC RSM McGladrey, Inc. -
Leasing Brochure
Specialty leasing Great Traffic More than 14 million visitors per year Great Options Malls are not just for retailers; office space, medical uses and other non-traditional retail available Great Flexibility Short term, seasonal and long term options available Great Location Centrally located between the Twin Cities of Minneapolis and St. Paul 2 // SPECIALTY LEASING We are a Powerhouse With over 1 million square feet of retail spanning two levels including Macy’s, JCPenney, the new Von Maur, Revolution Hall, AMC Theatres, 160 specialty stores plus fast-casual and full-service dining… Rosedale Center is the trade area’s most popular regional shopping center. The Shoppers We boast more than 14 million annual visitors > Core shoppers include young families and growing each day. with children and Millennials who are fully engaged in the experiential aspects of modern shopping > Are physically active, participating in a variety of sports including: yoga, pilates, backpacking, football, basketball, hockey and soccer > 75% have a wide range of international foods on their shopping lists > 53% prefer fresh and healthy foods > Are digitally engaged and up on the latest technology > Actively supports the arts, theater, concerts and museums > The majority own their home and they are likely to purchase kids’ products ifestyle Emerald City In Style Bright Young College Town Median Age: 36.6 Median Age: 41.1 Professionals Median Age: 24.3 Median Age: 32.2 Average Household Average Household Average Household Size: 2.05 Size: 2.33 Average Household Size: -
SEE YOURSELF HERE Rosedale Center Is the Urban Mall
SEE YOURSELF HERE Rosedale Center is the urban mall. • Closest mall to downtown Minneapolis and St. Paul • 1,218,861 square foot shopping center • Space lets in lots of light with wood and metal accents and modern furniture • AMC Theatres, JCPenney, Macy’s, and Von Maur • 160 specialty stores, plus fast-casual and full service dining Attracting national attention Social Influencer ShareSpace for its ability to create experiences. Potluck Food Hall Influencer Campaign Drawing 14 million shoppers. With annual sales of $300+ million. Population by Age 25-34yo 35-44 55-64 45-54 65-74 Market 16% 14% 13% 12% 8% With a high population of coveted millenials. Our Source: ESRI Ramsey Andover Anoka Coon Rapids Lino Lakes Champlin H go Blaine A mall for the Maple Grove Brooklyn Park Mounds View Mahtomedi Twin Cities. MPLS STP Minneapolis Between the Minnetonka St Paul Woodbury Mendota Heights Richfield Twin Cities. Eden Prairie Inver Grove Heights Cottage Grove Eagan Bloomington Rosedale owns the downtown market. H Rosemount Ramsey Andover Anoka Coon Rapids Lino Lakes Champlin 35W 35E Hugo No Blaine 61 Maple Grove Brooklyn Park Mounds View competition Mahtomedi 694 North Loop 36 51 Ridgedale Center Minneapolis in the north Uptown Grand Ave in St. Paul Woodbury Lakes Minnetonka St Paul 35W Woodbury Southdale Center Mendota Heights and east. Richfield Eden Prairie Center Eden Prairie Mall of America 35E Inver Grove Heights Cottage Grove Eagan Bloomington Rosedale Center has no competition Hastings in 50% of the Twin Cities. Rosemount Top 75% of Trips 15 Mile Trade Area Shopping Centers Rosedale Center Shopper Origin Map Lino Lakes Coon Rapids Champlin Blaine Hugo $150,000 or more $100,000 - $149,999 $50,000 - $99,999 $25,000 - $49,999 Brooklyn Park Mounds View Less than $25,000 Maple Grove W ealth of the southwest North Loop suburbs is Ridgedale Center Minneapolis St Paul Woodbury Lakes mirrored Minnetonka Uptown Grand Avenue Woodbury in the Southdale Center Richfield northeast Mendota Heights Eden Prairie Center Mall of America suburbs. -
Specialty Leasing 9.Indd
Specialty leasing The Shopper stat Page (could be two pages). Defi nes malls target audiences. We are a Powerhouse With over 1 million square feet of retail spanning two levels including Macy’s, JCPenney, the new Von Maur, Revolution Hall, AMC Theatres, 160 specialty stores plus fast-casual and full-service dining… Rosedale Center is the trade area’s most popular regional shopping center. We boast sales in excess of $600+ million The Shoppers ($700+ sales psf) and more than 14 million > Core shoppers include young families annual visitors and growing each day. Great Traf c Great Sales with children and Millennials who are fully engaged in the experiential aspects of modern shopping More than visitors per year Sales in excess of 14 million > are physically active, participating in a variety of sports including: yoga, pilates, backpacking, football, basketball, hockey and soccer 75% have a wide range of international Great Options per square foot > foods on their shopping lists Malls are not just for retailers; $600 > 53% prefer fresh and healthy foods o ce space, medical uses and other > are digitally engaged and up on non-traditional retail available Great the latest technology > actively supports the arts, theater, Location concerts and museums > the majority own their home Centrally located between and they are likely to purchase kids’ Great Flexibility the Twin Cities of products ESRI & Facebook Insights Short term, seasonal and long term Minneapolisand leases available ifestyle St. Paul Emerald City In Style Bright Young College Town -
Meet the Mall Managers
Meet the Mall Managers – Shopping Center Secrets from the Sources! Presenters: Maureen Hooley Bausch – Triple Five Group, Mall of America Jodi Settersten Coyer – CBL & Associates Properties, Burnsville Center Nancy Litwin – Cypress Equities, Eden Prairie Center Chad Macy – JLL, Rosedale Center Paula Mueller – Glimcher Properties, Northtown Mall Joan Suko – General Growth Properties, Ridgedale Center Jennie Zafft – UCR Asset Services, The Shoppes at Arbor Lakes Moderator: Mike Sims, Mid-America Real Estate – Minnesota, LLC MOA PHASE IC SIGNAGE CONCEPT Burnsville Center • Anchor tenants include Dick's Sporting Goods, Gordman's, JCPenney, Macy's, Sears, Paragon Odyssey 15 • 137 specialty retailers including Aéropostale, American Eagle Outfitters, Best Buy Mobile, Charlotte Russe, Crazy 8, dELiA*s, dressbarn, Gymboree, Hollister Co., Teavana, Victoria’s Secret and Zumiez • 11 quick-serve restaurants and five family sitdown restaurants Burnsville Center • Opening Date: 1977 • Total Center GLA 1,045,242 sf • Site: 98 acres • Parking: 5,994 spaces • Total Stores: 137 • Trade Area Population:828,405 Burnsville Center Fun Fact Reality TV premier Season 1, episode 5 of Food Court Wars Hosted by Tyler Florence Winner of one year free rent - Pimento Jamaican Kitchen Eden Prairie Center Eden Prairie Center • Favorite shopping, family entertainment and dining destination for residents in the affluent and fast-growing southwest suburbs of Minneapolis-St. Paul • Conveniently close to I-494 and Highway 212 • Anchored by Von Maur, Target, Kohl’s, Sears -
Edina (Minneapolis), Minnesota a Thriving Community
BUSINESS CARD DIE AREA 225 West Washington Street Indianapolis, IN 46204 (317) 636-1600 simon.com Information as of 5/1/16 Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (Simon Property Group, NYSE:SPG). EDINA (MINNEAPOLIS), MINNESOTA A THRIVING COMMUNITY Southdale Center serves an established, affluent, and densely populated area of Minneapolis that includes Edina, Bloomington, St. Louis Park, Lake Harriet, and Lake Calhoun. — The affluent community surrounding the center has seen significant growth in new residential and commercial developments. Within a three-block radius of the center, more than five new residential developments have come online. — The surrounding area has a high daytime population of almost 1,000,000 including business and medical professionals. — Minneapolis has an active sports community and is home to five professional teams: Minnesota Vikings (NFL), Minnesota Wild (NHL), Minnesota Twins (MLB), Minnesota Timberwolves (NBA), and Minnesota Lynx (WNBA). The NFL team has a new stadium. THE BUSINESS OF BUSINESS Southdale Center benefits from the prosperous business and medical community in Edina and surrounding areas. — Southdale Hospital is adjacent to Southdale Center and employs a full- and part-time faculty of more than 2,300 professionals. Within the center’s trade area, the daytime workforce population is more than 977,000, including more than 12,000 medical professionals. — Adjacent to the center is the new Westin Hotel which has 225 guest rooms and high-rise condominiums. — Newly developed One Southdale Place boasts 232 luxury apartments on the southeast corner of the property. — The newly created Explore Edina Visitors Bureau targets the Twin Cities’ strong tourist market to attract more retail business to Edina’s exceptional shopping districts. -
2002 Tax Study2.Qxd
Annual Retail Property Tax Study for the Year 2002 Minnesota Shopping Center Association Defend Property Tax Reform Despite the reduction in the CI rate, retailers in Minnesota still continue to pay on average 87% to 174% more in property taxes in 2002 than in other comparable markets. Reform adopted in 2001 will have a positive impact for taxes payable in 2003. For all commercial properties, including shopping centers, 2002 taxes declined 6 - 7% according to the Minnesota Department of Revenue. Defending this property tax reform is MSCA’s top priority. This is the fourth annual Minnesota Shopping Center Association's (MSCA) Property Tax Study. The purpose of this study is to analyze how Minnesota retail property taxes, on a per square foot basis, compares to similar markets across the country. Minnesota’s high taxes continue to place the state at a competitive disadvantage to other states in attracting retail business and in providing retail goods and services to residents. Minnesota’s high taxes make Minnesota a less desirable destination for retailers when they decide where to locate their stores. Why operate in Minneapolis/St. Paul when Denver, Houston or Milwaukee offers lower real estate taxes and therefore lower operating expenses? High taxes in Minnesota result in fewer jobs, less selection, and ultimately higher costs to consumers, since retailers adjust their prices in any given market to pass through those taxes to consumers. In the current economic climate, raising commercial real estate and business taxes will not spur economic growth in the retail industry and will only hurt consumers in this state. -
MSCA Newsletter
NOVEMBER 2011 Minnesota Shopping Center Association Vol 25. No. 11 In this Issue OSHA Directive -------- FEATURE 1 TeaSource ------------ RISING STAR 3 Becker / Carland -- MEMBER PROFILES 5 Retail Report ------ COMMITTEE CHAT 6 Retail Investment - PROGRAM RECAP 6 Connection Feature Guest Authors: Nicole Truso & John Polley, Faegre & Benson LLP Recent OSHA Directive May Impact Retail and Other Commercial Activities n September 8, 2011, OSHA issued a compliance Directive is the latest in an extensive history of OSHA directive (the “Directive”) on workplace violence examining the issues associated with workplace violence. In that outlines enforcement procedures for OSHA field 1996, OSHA issued a set of guidelines for preventing Oofficers in determining whether and how to investigate workplace violence for health care and social service employers for instances of alleged workplace violence. This workers, followed by a set of recommendations for late- Directive will have implications on how employers and night retail workplaces in 1998. However, th ere were few building owners view, design, and use their facilities in ways citations publicized in the years after these guidelines were to reduce workplace violence, especially those facilities issued. Under the Obama administration, OSHA has issued most prone to workplace violence, such as retail and several citations addressing workplace violence, hospital facilities. demonstrating a heightened interest in the subject. OSHA and Workplace Violence Many commercial and retail buildings could be -
Used Eyeglass & Hearing Aid Collection Locations
Used Eyeglass & Hearing Aid Collection Locations FORWARD LOCATIONS OR CORRECTIONS TO: PDG Bob Hoofnagle, Chief Operations Officer Minnesota Lions Eyeglass Recycling Center 321 8th Ave S Sauk Rapids, MN 56379 E-mail: [email protected] Phone: (320) 266-1611 Revised: November 2016 Lions Clubs International Used Eyeglass Recycling Program Why Collect Used Eyeglasses? • Globally, one child in four cannot see well enough to learn to read without eyeglasses. • By age 40, 90% of adults experience a decrease in their ability to read print and need eyeglasses. • Many emerging countries lack the resources to manufacture quality lenses, and the cost of importing eyeglasses is far beyond the means of the average citizen. • Millions fail to reach their economic, educational, and social potential without access to quality eyeglasses. • The World Health Organization estimates that the eyesight of one-fourth of the world’s population can be improved through the use of corrective lenses. Unfortunately for many, a pair of glasses is both unaffordable and inaccessible. In developing countries, an eye exam costs as much as one month’s wages, and a single doctor may serve a community of hundreds of thousands of people. What Are the Lions Doing? In the Midwest • The Minnesota Lions have collected more than five million pairs of eyeglasses. • The Minnesota Lions Eyeglass Recycling Center, a 501(c)(3) nonprofit organization in Sauk Rapids, Minn., collects more than 700,000 pair of used eyeglasses every year. • The Wisconsin Lions Foundation operates a regional facility in Rosholt, Wisconsin, where volunteers clean, repair, and classify the glasses by prescription. The facility distributes about 1 million pairs of glasses each year. -
Store # State City Mall/Shopping Center Name Address 1831 AK
Store # State City Mall/Shopping Center Name Address 1831 AK Anchorage 5th Avenue Mall-Sur 406 W 5th Ave. 2994 AL Fultondale Promenade Fultondale 3363 Lowery Pkwy 2218 AL Hoover Riverchase Galleria 2300 Riverchase Galleria 219 AL Mobile Bel Air Mall 3400 Bell Air Mall 2840 AL Montgomery Eastdale Mall 1236 Eastdale Mall 2869 AL Trussville Tutwiler Farm 5060 Pinnacle Square 2709 AR Fayetteville Northwest Arkansas Mall 4201 N Shiloh Dr. 1961 AR Fort Smith Central Mall 5111 Rogers Ave. 2914 AR Little Rock Shackleford Crossing 2600 S Shackleford. Rd. 2879 AR Rogers Pinnacle Hills Promenade 2202 Bellview Rd. 157 AZ Chandler Mill Crossing 2180 S Gilbert Rd. 251 AZ Glendale Arrowhead Towne Center 7750 W Arrowhead Towne Center 2842 AZ Goodyear Palm Valley Cornerstone 13333 W Mcdowell Rd. 2940 AZ Lake Havasu City Shops at Lake Havasu 5651 Hwy 95 N 2419 AZ Mesa Superst'n Springs Ml 6525 E Southern Ave. 2846 AZ Phoenix Ahwatukee Foothills 5050 E Ray Rd. 2889 AZ Phoenix Christown SpeCenterum 1727 W Bethany Home Rd. 1480 AZ Phoenix Paradise Valley Mall 4510 E Cactus Rd. 2902 AZ Tempe Tempe Marketplace 1900 E Rio Salado Pkwy Suite 140 90 AZ Tucson Tucson Mall 4530 N Oracle Rd. 2913 AZ Tucson Tucson SpeCenterum 5265 S Calle Santa Cruz 2837 AZ Yuma Yuma Palms Shopping Center 1375 S Yuma Palms Pkwy 2955 CA Antioch Orchard at Slatten Rch 4951 Slatten Ranch Rd. 1417 CA Arcadia Westfield Santa Anita 400 S Baldwin Ave. 2209 CA Bakersfield Valley Plaza 2501 Ming Ave. 2648 CA Brea Brea Mall 400 Brea Mall 566 CA Carlsbad Plaza Camino Real 2555 El Camino Real 246 CA Carson Southbay Pavilion at Carson 20700 Avalon Blvd 2937 CA Chino Rancho Del Chino Shopping Center 14659 Ramona Ave. -
2008 Retail Report Cover FRONT and BACK Together:MSCA Newsletter Option 1.Qxd
2008 State of Retail Real Estate Report MINNESOTA SHOPPING CENTER ASSOCIATION phone: 952-345-0452 8120 Penn Avenue South, Suite 464 fax: 952-888-0000 Bloomington, MN 55431 web: msca-online.com msca-online.com 2008 MSCA Research Committee A special thanks to: The data for the 2008 MSCA Retail Report shows vacancies and rental Maura Carland rates as of August 1, 2008. Property information was provided by members Andrew Chana, Marcus & Millichap of MSCA, as well as the MNCAR “Xceligent” database. Data contained in Andrea Christenson, Colliers Turley Martin Tucker this report is the property of the Minnesota Shopping Center Association David Daly, NorthMarq and may not be copied without prior consent. Tim Davis, Consolidated Photo Adam Fisher, MNCAR Demographic reporting solutions was provided by Claritas, the leader in Peter Grones, Cambridge Commercial Realty providing demographic reporting solutions. Claritas is your most accurate Sara Martin, NAI Welsh online source for U.S. demographics. Jim Mayland, Colliers Turley Martin Tucker Kelcey McKean, Colliers Turley Martin Tucker The 2008 MSCA Research Committee performed the statistical analysis. Dan Mossey, Kraus-Anderson Companies Marcus & Millichap Additional copies of this report are available by contacting the Minnesota MNCAR Shopping Center Association at (952) 345-0452. Tricia Pitchford, NorthMarq Holly Rome, Mall of America ©2008 Minnesota Shopping Center Association Ronn Thomas, NorthMarq 8120 Penn Avenue South, Suite 464 Molly Townsend, Colliers Turley Martin Tucker Bloomington, MN 55431 Leah Truax, NorthMarq John Tramm, Coldwell Banker Commercial Griffin Companies (952) 345-0452 Neal Young, Minnesota Department of Employment & Economic Development www.msca-online.com Table of Contents 1 Introduction . -
2004 MSCA Report Final Ver
2004 MSCA RESEARCH COMMITTEE MEMBERS 2004 MSCA RESEARCH COMMITTEE MEMBERS Molly Bird, United Properties Eric Bjelland, United Properties Jerry Ciardelli, Erdahl Aerial Photos Gregg Erickson, CB Richard Ellis Elizabeth (Betty) Ewens, Kraus-Anderson Companies Jim Mayland, MnCAR Jan Goossens, Kraus-Anderson Companies Tricia Pitchford, United Properties Bob Pounds, Welsh Companies, LLC Holly Rome, Jones Lang LaSalle Paul Sevenich, Kraus-Anderson Companies Ken Vinje, Kraus-Anderson Companies *A special thanks to: Kathy Anderson, Architectural Consortium L.L.C; Bruce Carlson, United Properties; Darcy Eigen, River Hills Mall Manager; Lisa Kinowski, Fisher Group; Faegre & Benson LLP; Frank Holappa, Holappa Commercial Real Estate; Joe Kleiman, Kleiman Realty; Howard Paster, Paster Enterprises; Chris Simmons, Welsh Companies, LLC; Terry Smith, TRS Commercial Real Estate, Inc. Property information was provided by members of MSCA, as well as the MnCAR “Xceligent” database. Data contained in this report is the property of the Minnesota Shopping Center Association and may not be copied without prior consent. The 2004 MSCA Research Committee conducted the surveys and performed statistical analysis. Additional copies of this report are available by contacting the Minnesota Shopping Center Association at (952) 888-3491. ©2004 Minnesota Shopping Center Association 8120 Penn Avenue South, Suite 555 Bloomington, MN 55431 www.msca-online.com TABLE OF CONTENTS Introduction . 2 Executive Summary . 3 Glossary of Definitions . 3 OPINION SECTION Opportunities and Challenges . 4 Real Estate Taxes . 5 Investment Market . 5 Trends . 6 Development/Redevelopment . 6 Legislative . 7 Municipalities/Challenges . 8 Grocery-Anchored Centers . 8 New Retailers/Bankruptcies/ Acquisitions/Mergers . 9 Urban Clusters/Boutique Nodes . 9 OVERVIEW OF TWIN CITIES PROPERTIES Market Size .