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Download (.PDF) November 2009 Minnesota Shopping Center Association Vol 23. No 11 In this Issue Windsor Plaza --------- SNAPSHOT 1 Teen Retail ---- HOT SPOTS / COLD SNAPS 3 Retail Report ------ COMMITTEE CHAT 4 Dobbles/Zobel ---- MEMBER PROFILES 5 West End ----------- PROGRAM RECAP 6 Jon Charles ---------- RISING STAR 7 Connection Feature by Stephanie Cadmus, Mod & Company (mod&co) University of Minnesota’s TCF Stadium he University of Minnesota’s new TCF Stadium, aka “the of the Twin Cities campus – the largest expansion since the Bank,” opened September 12, 2009, with a 20-13 victory 1960’s when the West Bank was built. Current plans for the Tfor the Golden Gopher football team over Air Force in area call for the construction of as many as 10 new the first football game on campus in 27 years. Located on academic buildings by 2015. the northeast side of the Minneapolis campus near the site of the former Memorial Stadium, TCF Stadium is situated just east of Dinkytown and adjacent to Stadium Village. The Bank’s open-air horseshoe design has a capacity of just over 50,000 which includes general seating and an impressive offering of premium seating including 39 suites, 59 lodge boxes and 200 indoor club seats. Seating can be expanded to 80,000 seats should it be necessary. One potential need would be for the Minnesota Vikings NFL football team. If the Vikings indeed proceed with their own new stadium, they could play at the Bank during construction. The U of M’s stadium was awarded LEED Silver Certification, the first college or professional football stadium to achieve LEED certification. The stadium is part of a 75-acre expansion Snapshot Location: Flying Cloud Drive and Singletree Lane across from Windsor Plaza Eden Prairie Mall Month/Year Opened: Spring 2009 Owner: Solomon Real Estate Group Leasing Agent: Jesseka Doherty, Park Midwest Commercial Real Estate Architect: Cluts O’Brien Strother Architects Engineer: Westwood Professional Services Construction Contractor: Amcon Construction GLA: 20,000 sf of Retail and 105,000 sf of Class A Office Space Current Occupancy: 92% leased Anchor Tenants: Kona Grill, Aurora Jeweler’s, Massage Envy, Jason’s Deli, Hot Mama, Virtual Radiologic Market Area Served: Eden Prairie and surrounding cities Construction Style: Steel, Precast Concrete and Brick Additional Facts/Narrative: Windsor Plaza is an exciting new mixed-use development vertically integrating both retail and Class A office space in a five-story building. Parking is provided at street level and in the below-ground ramp. msca-online.com 1 MSCA Connection November 09 TCF Stadium - continued Total costs for the construction of TCF Bank at the Big 10 indicated about triple the 2009 Sponsors Stadium were $288.5 million, including site business on a game day versus a non- ACI Asphalt Contracts, Inc. preparation and infrastructure game day. He also added that the American Engineering Testing, Inc. improvements. The University funded 52 Wisconsin game on October 3 was the Aspen Waste Systems, Inc. percent of the cost with non-state dollars busiest game day thus far. “It was football Bremer Bank, N.A. from a variety of sources including parking the whole day.” Brookfield Properties revenues, student fees, athletic department CB Richard Ellis Panino’s at Stadium Village Plaza (the north funds and private funds, including the $35 CSM Corporation end of the property is within one block of Chesapeake Companies million, 25-year corporate sponsorship by the new stadium) has been packed on Chuck & Don’s Pet Food Outlet TCF Bank. The remaining 48 percent or game days, “shoulder to shoulder for two Classic Asphalt Sealcoating Co., Inc. $137.2 million will be funded by the state. hours before and after the games,” said Coldwell Banker Commercial Griffin Companies The newfound energy for the campus is manager Elliot Hawkinson. Panino’s is also Cuningham Group Architecture, P.A. palpable and the excitement has been one of the local businesses with a Cushman & Wakefield of well planned. Committed to working concession stand at the stadium. The Minnesota, Inc. through the ramifications of the new stadium location “gives us the opportunity Dick’s Sanitation, Inc. stadium with community stakeholders— to get our food exposure at the games, Dougherty Funding LLC people who live and work in the which we hope will translate into a store visit Emmes Realty Services LLC Exeter Realty Company surrounding area—the University created after the game or the next time they’re on Faegre & Benson LLP the Stadium Area Advisory Group (SAAG) campus.” Fendler Patterson Construction, Inc. and invited adjacent neighborhoods, The Bank will provide the University with Fredrikson & Byron, P.A. business associations, municipalities, and Gray Plant Mooty several other uses during the off-season. government entities to appoint two Great Clips, Inc. The new stadium replaced Northrop representatives to participate in regular H.J. Development, Inc. Auditorium as the home of the University of meetings. Inland Real Estate Corporation Minnesota Marching Band, providing the JE Dunn Construction Nancy Rose Pribyl with Dinnaken Properties band with new storage, rehearsal, and Jones Lang LaSalle/Rosedale Center and President of the Stadium Village locker facilities. Minnesota’s Club Rugby KKE Architects, Inc. Commercial Association and member of Team will also play a 2009 League game Kraus-Anderson Companies Larkin Hoffman Daly & Lindgren Ltd. SAAG shared that the pre-planning of what versus the University of Wisconsin at the The Lawn Ranger, Inc. game day would look like was a major new stadium. The University also expects to Leonard, Street and Deinard focus for the University. The major issues of use the stadium for intramural sports, M & I Bank SAAG: traffic, trash and tailgating. Pribyl career fairs, graduation ceremonies and McCombs Frank Roos Associates said “[We’re] not seeing any problems several non-university uses, such as the Messerli & Kramer P.A. because of the new stadium; nothing new recent Mpls/St. Paul Magazine Junior Mid-America Real Estate – Minnesota LLC or dramatic.” League Wine Tasting event. Midwest Maintenance & Of course the most dramatic change on Although the biggest impact of the new Mechanical, Inc. Minneapolis/St. Paul Business Journal game days is the traffic. The University is stadium has only been on game days, Minnesota Real Estate Journal encouraging alternative modes of everyone spoke of the added exposure NAI Welsh transportation to get to the new stadium. their businesses are now receiving with NorthMarq “Additional biking parking has been added football back on campus. Pribyl spoke of Olsson Associates as well as carpool parking,” said Pribyl, the hope that the added exposure and the Oppidan, Inc. “and there’s more buses going through the reintroduction of campus to Alumni will Opus Northwest LLC business district too.” hopefully translate to people coming back Park Midwest Commercial Real Estate on non-game days. Fellow SAAG committee member Skott Paster Enterprises Johnson, President of the Dinkytown Business With the thought of making the right “first” RJ Marco Construction Inc. RLK Incorporated Association and owner of Autographics impression, the Stadium Village Commercial RSM McGladrey, Inc. Printing echoed that traffic has been the Association took steps to beautify their Reliable Property Services biggest change, but he feels it’s due to fans district. They have brought planters to the Reliance Development Company, getting used to the area and Alumni getting sidewalks as well as created new light pole LLP reintroduced and finding their way around flags that not only speak to football, but Robert Muir Company campus once again. also to the other sports played at this corner Robins, Kaplan, Miller & Ciresi, L.L.P Ryan Companies US, Inc. of the University: basketball and gymnastics Increased numbers of alumni coming to Solomon Real Estate Group Inc. at Williams Arena; hockey at Mariucci campus and increased traffic ultimately Stewart Title Guaranty Company Arena; and swimming and diving at the mean increased business for surrounding Sunde Land Surveying, LLC Aquatics Center. TCF Bank shops and restaurants. They, too, are Target Corporation pleased with what the Bank has meant for All of these sports are important to the U.S. Bank business. The Big 10 Restaurant and Bar at University and certainly bring fans to the United Properties 606 Washington Avenue SE in Stadium area. With the new spirit the football Venture Mortgage Corporation Village now opens for breakfast on early stadium has brought, there is hope that fans Wells Fargo Bank, N.A. game days (otherwise, they are open from of the other U of M sports might make more Westwood Professional Services, Inc. 11am to 1am). Raymond Graves, manager of a day of it when they come to campus. Winthrop & Weinstine, P.A. MSCA Connection November 09 2 msca-online.com Hot Spots / Cold Snaps Featured by Peter Berrie, Faegre & Benson LLP Sponsors Teen Retail—A Recent ACI Asphalt Contracts, Inc. To provide our clients with Bright Spot unique, cost effective industry leading solutions for their pavement needs using s recently reported in the Star (e.g. Pacific Sunwear, a consultative approach Tribune, same-store sales in Volcom, Quicksilver, September rose for the first time since Zumiez) were the top Brookfield Properties A July 2008 according to the ICSC. Even choice for clothing To be a leader in the North though the increase was only 0.1%, the brand preferences American Commercial Real ICSC’s chief economist, Michael Niemira, among teens, followed by Estate Industry. noted that it “marked a significant turning Forever 21, Hollister, Nike, Gray Plant Mooty point for the industry, as well as the start of and American Eagle. The To be a law firm that blends a retail recovery.” The leaders of this small survey also included traditional quality and values resurgence seem to be teen retailers, who parents of teens and with contemporary thinking.
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