DOCSLIB.ORG

MSCA Newsletter

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
MSCA Newsletter NOVEMBER 2012 Minnesota Shopping Center Association Vol 26. no. 11 In this Issue Property Claim --------- FEATURE 1 Yogurt Lab ------------ RISIng STAR 3 Champeau/Engels - MEMBER PRoFILES 5 Retail Trends -------- PRogRAM RECAP 6 Online Advertising -------- STATS 7 Connection Feature by Jim Klym and Jon Diessner of Kraus-Anderson Insurance Will Your Business Survive After a Property Claim? roperty owners and managers in every part of the amended by endorsement. It ends on the earlier of (1) the country purchase and maintain insurance policies to date the property should be repaired, rebuilt, or replaced appease lenders and to protect their assets against the with reasonable speed and similar quality or (2) the date Prisk of catastrophic losses like fires and tornados. Since most when the business is resumed at a new permanent location. commercial property insurance carriers gladly offer When the business reopens, your income stream will take coverage for these types of losses, many in real estate shift time to resume to pre-loss levels. Most insurance companies their focus to obtaining the lowest possible premium. What grant 30 days of coverage for the “Extended Period of they often fail to consider is that the potential for financial Indemnity” with the option to purchase a greater timeframe loss to a commercial property such as 60, 90, 180 or 360 owner far exceeds the cost of days. rebuilding a structure. In fact, in situations where businesses Hopefully, owners and suffer a loss that forces them managers that read this to shut down operations for description will be prompted more than 30 days, industry to dust off their own policy or experts state that a quarter of call their agent to see them will never reopen. This whether or not this coverage unfortunate situation occurs is in place for their because many buyers don’t properties. Unfortunately, pay careful enough attention many, upon finding that they to a coverage known as do indeed have Business “Business Interruption Income coverage, will let Insurance” or “Business out a sigh of relief, and go Income/Loss of Rents back to business as usual. Insurance.” While the terminology may seem fairly But be careful. Carriers that include this coverage will rely on innocuous, the consequences of ignoring it can be information provided by the agent, and most make no devastating. This article will examine how the coverage distinction between those in real estate and those in works, why it is so crucial to those in real estate and what manufacturing or construction. But property owners and you need to do to ensure your assets continue to produce managers have very unique exposures that must be the income on which you rely, even after a catastrophic addressed properly in order for the coverage to have any event. value whatsoever. Business Income/ Loss of Rents Insurance is a property The first such exposure that should be considered is the time coverage that is designed to pay lost income (rents) as well required for reconstruction and the inability to move as expenses, including payroll, following a total or partial operations to a temporary location. Unlike a contractor who shutdown of operations. It is only triggered by a loss from a can conduct operations at another location relatively covered peril described in the cause of loss section of the easily, property owners and managers depend on their fixed policy and only applies during the “period of restoration.” location asset to produce income. Most businesses Typically, the “period of restoration” begins 72 hours after underestimate the amount of income necessary to meet the physical damage occurs, although this can be obligations until the property is operating normally again. By msca-online.com 1 MSCA Connection November 2012 Will Your Business Survive? - continued 2012 Sponsors insisting that your agent provide detailed may affect it. This common tool will help and accurate annual income information you identify the gross profit and normal ACI Asphalt Contractors, Inc. to the carrier, you allow for unforeseen operating expenses, including payroll, that Aspen Waste Systems, Inc. delays such as cause and origins will help determine the necessary level of Barna, guzy & Steffen, Ltd. investigation, tear down and debris coverage as well as spark a review of Bremer Bank, n.A. removal, securing permits, upgrading to business strategies and recovery plans. A CBRE comply with current building codes, properly completed business income involvement of federal, state and local worksheet is the foundation for proper CSM Properties government, choosing a contractor, and Business Interruption valuation. As an owner Chuck & Don's Pet Food outlet the delays inherent in construction itself. or manager you might also consider Colliers International | developing a disaster plan to minimize your Minneapolis-St. Paul The basis on which the carrier determines exposure in the event of a loss. Cushman & Wakefield/northMarq the value of their obligation is also very Cutting Edge Property important. Most carriers will require a stated As a property owner or manager, you are Maintenance amount of coverage on larger risks based often required to wear a number of Doran Construction on recent financial statements and a different hats. From repairman to attorney Faegre Baker Daniels LLP business income worksheet. Unfortunately, to accountant, your responsibilities are Fendler Patterson Construction, Inc. this allows for errors and inconsistencies that many and diverse. When you purchase Fredrikson & Byron, P.A. may be problematic when filing a claim. If commercial property insurance, you are available, it is far more beneficial for the entitled to a detailed and accurate analysis gray Plant Mooty valuation to be on what is known as an of your portfolio's unique risks. not all great Clips, Inc. “actual loss sustained” basis. In this situation, policies, agents and carriers are created H.J. Development, Inc. the carrier will rely on historical financial equal, so it is crucial that you have a Inland Real Estate Corporation statements to determine the income that partner that understands commercial Jones Lang LaSalle would have been generated if the loss had property in general, offers helpful and Kraus-Anderson Companies not occurred. insightful risk management suggestions, and Larkin Hoffman Daly & Lindgren Ltd. takes the time to help you evaluate the risks often the most overlooked exposure The Lawn Ranger outdoor Services in your operations and effectively mitigate unique to property owners and managers is Leonard, Street and Deinard them through a well-developed the “Extended Period of Indemnity.” In commercial property program. M & I, a part of BMo Financial today’s real estate market the standard 30- group day extended period of indemnity, which MFRA, Inc. implies a property is either 100% leased at Mcgladrey the time of reconstruction or has thirty days Messerli & Kramer P.A. in which to do so, is simply unrealistic. Mid-America Real Estate – options to purchase a greater time frame, Minnesota, LLC up to 360 days, should be seriously Midwest Maintenance & considered in order to avoid hurried lease Mechanical, Inc. negotiations that undermine the market THIRD THURSDAYS Minneapolis/St. Paul Business value of the property. Journal Minnesota Real Estate Journal It’s also crucial, as a policy holder, that you Next Meeting : Thursday, November 15, oppidan, Inc. understand the possible gaps in coverage. 2012 Business Interruption only pays losses due to Time: 8:30 am – 9:30 am The opus group Paster Enterprises covered perils described in the property Where: Starbucks – 1470 Robert Street Prescription Landscape policy. If you have a loss from a peril that is South, West. St. Paul excluded in your policy such as flood or RLK Incorporated earthquake, Business Interruption will not Member host: Regis Corporation respond. Even if you have a flood policy Anita Johnson , Christianson & Robert Muir Company with the national Flood Insurance Program, Company Commercial Real Estate Ryan Companies US, Inc. Business Interruption will not be included. What: Casual networking hosted by TCF Bank You should also be aware of your duties in MSCA members TCI Architects/Engineers/ the event of a loss and know that it is When: Third Thursday of every month Contractor, Inc. critical that you keep accurate records in a from EITHER 8:30 –9:30 am or 4:00 –5:00 Target Corporation safe place. Insurance companies typically pm. U.S. Bank pay loss of rental income based on your Why: Create synergy in the commercial historical rental income so rent rolls are United Properties real estate industry —share ideas and uniquely important. Foresight and planning, Venture Mortgage Corporation stories and make new effective as in most business situations, will help to Weis Builders, Inc. relationships. avoid pitfalls when it comes to recovery Wells Fargo Bank, n.A. from Business Income coverage. Ask your There is no fee for this event. Food and Westwood Professional Services, Inc. agent to assist you in completing a Business beverage are not included. RSVP to Wipfli LLP-CPAs & Consultants Income Worksheet and make them aware Stacey is preferred, but not required. of any substantial changes in income that MSCA Connection November 2012 msca-online.com 2 Rising Star by Creig Andreasen , Messerli & Kramer Featured (yo)gurt[lab] Sponsors Chuck & Don’s Pet Food cience! nobody knows how to excite your taste buds better than you do, and Yogurt Outlet Lab gives you full reign to concoct your craved creations. With a periodic table filled At Chuck & Don’s Pet Food with yogurt flavors, stations of assorted fresh fruit, and a wall lined with tubes of outlet, we care about pets, Stoppings, the formula you create out of the 60+ favors is just as unique as this scientific people, and doing the right take on a frozen yogurt store. thing. We strive to be the best regional independent Walking into Yogurt Lab feels like entering a pet food and product laboratory.
Load more

Recommended publications
  • 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:
    [Show full text]
  • 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.
    [Show full text]
  • 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
    [Show full text]
  • Minneapolis-Visitor-S-Guide.Pdf
    Minneapolis® 2020 Oicial Visitors Guide to the Twin Cities Area WORD’S OUT Blending natural beauty with urban culture is what we do best in Minneapolis and St. Paul. From unorgettable city skylines and historic architecture to a multitude o award-winning ches, unique neighborhoods and more, you’ll wonder what took you so long to uncover all the magic the Twin Cities have to o er. 14 Get A Taste With several Minneapolis ches boasting James Beard Awards, don’t be surprised when exotic and lavor-packed tastes rom around the globe lip your world upside down. TJ TURNER 20 Notable HAI Neighborhoods Explore Minneapolis, St. Paul and the surrounding suburbs LANE PELOVSKY like a local with day trip itineraries, un acts and must-sees. HOSKOVEC DUSTY HAI HAI ST. ANTHONY MAIN ANTHONY ST. COVER PHOTO PHOTO COVER 2 | Minneapolis Oicial Visitors Guide 2020 COME PLAY RACING•CARDS•EVENTS Blackjack & Poker 24/7 Live Racing May - September • Smoke - Free Gaming Floor • • Chips Bar Open Until 2 AM • In a fast food, chain-driven, cookie-cutter world, it’s hard to find a true original. A restaurant that proudly holds its ground and doesn’t scamper after every passing trend. Since 1946, Murray’s has been that place. Whether you’re looking for a classic cocktail crafted from local spirits or a nationally acclaimed steak, we welcome you. Come in and discover the unique mash-up of new & true that’s been drawing people to our landmark location for over 70 years–AND keeps them coming back for more. CanterburyPark.com 952-445-7223 • 1100 Canterbury Road, Shakopee, MN 55379 mnmo.com/visitors | 3 GUTHRIE THEATER 10 Marquee Events 78 Greater Minneapolis Map 74 Travel Tools 80 Metro Light Rail Map 76 Downtown Maps 82 Resource Guide ST.
    [Show full text]
  • The Connection
    INSIDE THIS ISSUE: Round 2: Meet the Managers .................................1-2 Rising Star: The Copper Cow ......................................3 Snapshot: Lowa46 ......................................................3 Member Profiles..........................................................4 Philanthropic Efforts ..................................................5 Minnesota Marketplace ..............................................6 Contributor’s Corner ...................................................7 What’s Hot/Not? ..........................................................7 Monthly Speakers & Professional Showcase ..............8 Member News & Calendar of Events ..........................9 JUNE 2019 MSCA Leadership .....................................................10 Corporate Sponsors ..................................................11 STARR Award Nominations .......................................12 MSCA at the St. Paul Saints ..................................13 The Connection FEATURE Round 2: Meet the Managers – NEWS Shopping Center Secrets from the Sources! JANUARY 2018 MSCA’S MAY PROGRAM WAS A FAST-PACED, Q&A DISCUSSION WITH THOSE AT THE HEART OF OUR INDUSTRY! Our panel of experts, who represent the top mall owners/developers in the country, shared their candid perspectives on how to run successful shopping centers in today’s wildly changing environment. by Karla Keller Torp, Unfortunately, we ran out of time for more great questions, so we thought we would bring you round MSCA two filled with additional information
    [Show full text]
  • December MSCA News
    2004 Corporate Sponsors Adolfson & Peterson Construction The Avalon Group Benson-Orth Associates, Inc. Bremer Bank, N.A. Brookfield Properties (US) LLC news The Business Journal Cambridge Commercial Realty CB Richard Ellis Volume 18, Number 12 December 2004 The Collyard Group Commercial Partners Title, LLC Construction 70, Inc. CSM Corporation Feature Cuningham Group Architecture, P.A. Evolution, Not Revolution, Dalbec Roofing Exeter Realty Company in Retail Trends Faegre & Benson LLP General Growth Properties, Inc. by Betty Ewens, CLS, Kraus-Anderson Companies Glimcher Properties/Northtown Mall Gray Plant Mooty ost retail trends currently look like business may be beginning to dissuade some Great Clips, Inc. classic evolution-at-work, survival of from that genre, however. H.J. Development, LLP the fittest, driven by competitive M Tax-deferred exchanges have also fueled Heitman Financial Services LLC market forces. What’s ordinary, what’s new? buying activities; investors looking for 1031 J.E. Dunn-North Central And, what about the next revolution? Where exchanges continue to push into the market. J.L. Sullivan Construction, Inc. might the next one of those come from? Jones Lang LaSalle Like-kind exchanges are expected to continue KKE Architects, Inc. Despite continuing concerns about the economy, to be immensely popular, with Tenants-In- Kraus-Anderson Companies job growth and the national debt, the retail real Common (TIC) generating interest. estate market overall is continuing to thrive. LandAmerica Commonwealth A newer trend, likely brought about by Investors are overwhelmingly selecting retail Landform economic necessity, is a greater movement product types as a preferred sector, with Larkin, Hoffman, Daly & Lindgren, Ltd.
    [Show full text]
  • Eagan, Minnesota
    EAGAN, MINNESOTA PROPERTY OVERVIEW TWIN CITIES PREMIUM OUTLETS® JOINT VENTURE WITH PARAGON OUTLETS EAGAN, MN MAJOR METROPOLITAN AREAS SELECT TENANTS Minneapolis: 10 miles Saks Fifth Avenue OFF 5TH, adidas, Ann Taylor Factory Store, Armani St. Paul: 10 miles Outlet, Banana Republic Factory Store, Coach, Cole Haan Outlet, Express Factory Outlet, Fossil, Gap Outlet, J.Crew Factory, kate spade new york, LOFT Outlet, Lucky Brand Outlet, Michael Kors Outlet, Movado Company RETAIL Store, Nike Factory Store, Oakley, Old Navy Outlet, Polo Ralph Lauren Factory Store, Tommy Hilfiger, True Religion, Under Armour, Vera Bradley GLA (sq. ft.) 409,000; 100 stores OPENING DATES TOURISM / TRAFFIC Opened August 2014 The City of Eagan is a growing suburb located southwest of the Greater Minneapolis-St. Paul (MSP) metro area. The MSP metro area is home to more than 3.2 million people. With a GMP of nearly $200 billion, PARKING RATIO MSP is the 13th largest metropolitan economy in the U.S. and 44th in the world. The greater MSP area is home to 19 Fortune 500 companie s and TWIN CITIES 5.5:1 seven of Forbes’ largest private firms. It is also an important center for PREMIUM OUTLETS manufacturing, retail, bioscience and medical technology, pharmaceuticals, EAGAN, MN and health care. In 2018, Eagan became the new home of the Minnesota RADIUS POPULATION Vikings’ Headquarters including a practice facility. 15 miles: 1,655,287 Eagan is only 10 miles from both Minneapolis and St. Paul. Traffic counts 30 miles: 3,023,934 by the site are approximately 125,000 VPD. In 2016, MSP had 32.5 million 45 miles: 3,519,776 visitors that spent $7.6 billion (Twin Cities Business).
    [Show full text]
  • October 24, 2018 Presentation
    North End Working Group // October 24, 2018 • Introductions 15 min • Planning Process + Schedule 10 min • Community Engagement Plan 10 min • Background Analysis 25 min • Visioning and Mapping Exercise 55 min • Next Steps 5 min perkinswill.com perkinswill.com Jay Demma Leslie Johnson John Slack Project Manager, Senior Planner Landscape Architect Principal-in-Charge, Lead Urban Perkins+Will Perkins+Will Designer Perkins+Will perkinswill.com perkinswill.com ~400 acres I-694 County Rd D 2 mil sf retail space sf healthcare space Maplewood 900k Mall St. John’s ~1,000 households Hospital Beam Ave 6,000+ jobs Ramsey County Library Bruce Vento Trail perkinswill.com • Identified as a goal in the Comp Plan I-694 County Rd D • Coordinate with Rush Line BRT planning Maplewood • Retail is changing: Mall St. protect a key asset John’s Hospital • Healthcare is changing: Beam Ave build on a key asset • Opportunity to provide diverse housing options perkinswill.com Riverdale Northtown Arbor Lakes Shingle Creek Maplewood Mall 1 Rosedale Ridgedale Woodbury Lakes Southdale South Robert Existing Conditions: Eden Prairie Center • Eagan Town Center . Market and Economic Analysis Burnsville Center Apple Valley CBD . Buildings . Infrastructure . Traffic Volumes 2 4 6 12 . Parks, Trails, and Open Space 50,000 35,000 20,000 perkinswill.com 2 perkinswill.com 3 • Multiple outreach strategies . Public meetings . Website . One-on-one interviews . Event attendance . Other tactics as needed/appropriate perkinswill.com 4 • Reinforcing positive elements of the North End
    [Show full text]
  • Eagan, Minnesota
    EAGAN, MINNESOTA PROPERTY OVERVIEW TWIN CITIES PREMIUM OUTLETS® JOINT VENTURE WITH PARAGON OUTLETS EAGAN, MN 35W 52 35E MAJOR METROPOLITAN AREAS SELECT TENANTS 94 694 Minneapolis: 10 miles adidas, Ann Taylor Factory Store, Armani Outlet, Banana Republic 494 35W St. Paul: 10 miles Factory Store, Coach Factory Store, Cole Haan Outlet, Express Factory Minneapolis 35E Outlet, Fossil, Gap Factory Store, J.Crew Factory, Lucky Brand Outlet, 394 St. Paul 71 12 RETAIL Michael Kors Outlet, Movado Company Store, NikeFactoryStore, Polo 494 Ralph Lauren Factory Store, Tommy Hilfiger Company Store, True 494 Religion, Under Armour, Vera Bradley 494 GLA (sq. ft.) 409,000; 100 stores 35W 35E OPENING DATES TOURISM / TRAFFIC Eagan Opened August 2014 The City of Eagan is a growing suburb located southwest of the Greater 52 Minneapolis-St. Paul (MSP) metro area. The MSP metro area is home to more than 3.2 million people. With a GMP of nearly $200 billion, PARKING RATIO MSP is the 13th largest metropolitan economy in the U.S. and 44th in 5.5:1 the world. The greater MSP area is home to 19 Fortune 500 companies TWIN CITIES and seven of Forbes’ largest private firms. It is also an important PREMIUM OUTLETS center for manufacturing, retail, bioscience and medical technology, EAGAN, MN RADIUS POPULATION pharmaceuticals, and health care. 15 miles: 1,601,178 30 miles: 2,925,840 Eagan is only 10 miles from both Minneapolis and St. Paul. Traffic counts 45 miles: 3,405,838 by the site are approximately 125,000 VPD. In 2008, MSP had 17.9 million visitors and was selected as one of Frommer’s top international destinations.
    [Show full text]
  • 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 .
    [Show full text]
  • 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 .
    [Show full text]
  • Downtown White Bear Lake Retail Market Demand
    DOWNTOWN WHITE BEAR LAKE RETAIL MARKET DEMAND Prepared for City of White Bear Lake April 2014 DOWNTOWN WHITE BEAR LAKE RETAIL MARKET DEMAND Prepared for City of White Bear Lake Prepared by McComb Group, Ltd. April 2014 © Copyright 2014 McComb Group, Ltd. TABLE OF CONTENTS Chapter Subject Page INTRODUCTION.................................................................................................. vi SUMMARY OF FINDINGS ................................................................................. ix I WHITE BEAR LAKE SHOPPING AREAS ...................................................... 1-1 Downtown White Bear Lake Retail Area ............................................................... 1-1 Other White Bear Lake Retail Areas ...................................................................... 1-4 Employment ............................................................................................................ 1-5 Gross Building Area ............................................................................................... 1-5 Parking .................................................................................................................... 1-6 Traffic Counts ......................................................................................................... 1-8 Downtown White Bear Lake Traffic Counts .......................................................... 1-8 II COMPETITIVE SHOPPING AREAS ............................................................... 2-1 Primary Competitive Retail Areas .........................................................................
    [Show full text]