Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
9
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
10
Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
11 Contact Ross Malinski, Owner/Broker 612.455.4000 | Cell 612.455.4001 [email protected] www.guardiancompanies.com
Real Estate Services
Lakeville, MN • I-35 & Co Rd 46 23.7 Acres Commercial Land For Sale/Lease Will Subdivide
Trust. Value. Results.
Table of Contents
1..... Property Summary
2..... Location Map
3..... Surrounding Businesses
4..... Site Concept Plan
5..... Tra c Counts
6..... Demographics Summary
8..... General Market Overview
10..... Business Market Overview
12..... Zoning
Real Estate Services LLC Cedar Ave S, Suite 300 Minneapolis, MN 55337 Voice 612.455.4000 Cell 612.455.4001 Fax 612.455.4001 [email protected] www.guardiancompanies.com
DISCLAIMER While the information contained herein is from sources deemed reliable, it has not been independently veri ed. We use information provided by organizations and agencies which track market data, and therefore, make no representation with respect to the information. The projections contained within this document represent best estimates based on assumptions considered reasonable to the circumstances at the time of publication. No representations or warranties, expressed or implied, are made that actual results will con rm to such projections. The advisors or Owner or any of their a liates reserve the right to reject any or all proposals or expressions of interest in the subject property at their discretion, and to terminate discussions with prospects at any time with or without notice.
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Property Summary
Property Size 23.7 acres
Location Southwest corner of I-35 and County Road 46
Address 10906 162nd Street West, Lakeville, MN 55044 Zoning This property is zoned C-3, which includes all uses of C-1 and C-2. The property falls into the Shoreland District Overlay of Lee Lake.
Property Highlights Great Visibility Convenient Easy Freeway Access Lakeshore Site Close to Minneapolis, St. Paul and MPS Airport Nearby Retail and O ce Businesses Growing Community Potential Usage Medical Facility, Hotel, Restaurant, Event Center, Bank O ces, Retail or Service
Utilities Water & Sewer: City of Lakeville Fiber & Telephone: Frontier Communications Electricity: Dakota Electric PIDS Taxes Lakeville City Planning (952) 985-4420 Land Area Summary Gross Area of property = 1,033,983 sq. ft (23.737 acres) Area of property (excluding lake) = 629,280 sq. ft (14.446 acres) Area of property between shoreline and 75’ setback line = 222,499 sq. ft (5.108 acres), Area of property outside of 75’ setback = 406,781 sq. ft (9.338 acres), North “parcel” = 279,486 sq. ft (6.416 acres) South “parcel” = 127,295 sq. ft (2.922 acres) PRICE AVAILABLE UPON REQUEST
1
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Location Map
Location The property is located on the I-35 corridor in the southern section of the metro Minneapolis area.
Lakeville Property
2
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Surrounding Businesses
Buck Hill
Lakeville Property
Brunswick Strip Recreation Starbucks Kwik Trip Center Mall KFC
Harley Davidson Celebration Church
Gander Mountain HOM Furniture
Cracker Barrel Old Country Store Fleet Farm
3
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Site Concept Plan
This plan is for conceptual purposes only and is not approved.
4
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Tra c Counts
Interstate 35 101,000 vehicles per day 162nd Street 32,000 vehicles per day Kenyon Avenue 1,650 vehicles per day
Trunk freeway routes are 2006 A.A.D.T. volumes County system roads are 2007 A.A.D.T. volumes Municipal street routes are 2007 A.A.D.T. volumes
5
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Demographics Summary
Site Type: 10906 162nd St W 10906 162nd St W 10906 162nd St W Radius Lakeville, MN 55044 Lakeville, MN 55044 Lakeville, MN 55044 Radius: 1.0 mile Radius: 3.0 miles Radius: 5.0 miles
Population
1990 Population 3,682 35,068 94,673 2000 Population 6,044 51,098 134,277 2007 Population 6,813 58,196 158,078 2012 Population 7,444 64,212 178,527 1990-2000 Annual Rate 5.08% 3.84% 3.66% 2000-2007 Annual Rate 1.93% 2.10% 2.65% 2007-2012 Annual Rate 1.79% 1.99% 2.46%
2007 Poplution
Total Population 6,813 58,196 158,078 Male Population 50.8% 50.1% 49.7% Female Population 49.2% 49.9% 50.3% Median Age 33.3 33.1 33.7
In the identi ed market area, the 2007 population was 158,078. In 2000, the Census count in the market area was 134,277. The rate of change since 2000 was 2.65 percent annually. The ve-year projection for the population in the market area is 178,527, representing a change of 2.46 percent annually from 2007 to 2012. The population is 49.7 percent male and 50.3 percent female.
6
Demographics Summary continued
Households
1990 Households 1,248 11,927 32,339 2000 Households 2,036 17,726 47,330 2007 Households 2,334 20,590 56,961 2012 Households 2,564 22,847 64,758 1990-2000 Annual Rate 5.02% 4.04% 3.88% 2000-2007 Annual Rate 2.21% 2.43% 3.01% 2007-2012 Annual Rate 1.90% 2.10% 2.60%
2007 Households
Total Households 2,334 20,590 56,961 Average Household Size 2.92 2.82 2.77 2000-2007 Annual Rate 2.21% 2.43% 3.01%
The household count in this market area has changed from 47,330 in 2000 to 56,961 in 2007, a change of 3.01 percent annually. The ve-year projection of households is 64,758, a change of 2.6 percent annually from the 2007 year total. Average household size was 2.77 in 2007, compared to 2.82 in the year 2000. The number of families in 2007 was 41,715 in the market area.
2007 Housing
Owner Occupied Housing Units 82.6% 79.9% 79.4% Renter Occupied Housing Units 14.9% 17.7% 18.1% Vacant Housing Units 2.5% 2.3% 2.5%
In 2007, 79.4 percent of the 58,396 housing units in the market area were owner occupied; 18.1 percent renter occupied; and 2.5 percent are vacant. In 2000, there were 48,161 housing units - 79.4 percent owner occupied, 18.9 percent renter occupied, and 1.7 percent vacant. The rate of change in housing units since 2000 is 2.69 percent. Median home value in the market area is $279,905, compared to a median home value of $192,285 for the U.S. In ve years, median home value is projected to change by 3.02 percent annually to $324,850. From 2000 to 2007, median home value changed by 8.23 percent annually.
7
Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 General Market Overview
Demographics Estimated population growth in Minnesota between 2000 and 2008 is 5.8 percent. Minnesota’s popula- tion will continue to grow. According to the State Demograpic Center, between 2010 and 2020 the state’s population is projected to increase more than nine percent to 5,943,230 people. The labor force is estimated to increase six percent to 3,278,320 individuals.
Minnesota’s population is expected to become more racially and ethnically diverse, according to the State Demographic Center. Between 2005 and 2015, the nonwhite population is projected to grow 35 percent, compared to 7 percent for the white population. The Hispanic population is expected to increase 47 percent.
Income Levels With a per capita income of $38,751, Minnesota ranked rst in the Midwest and 13th among states in 2006, exceeding the national average by about 6 percent. Minneapolis-St. Paul ranked 16th in the country by metropolitan area in 2005, and 1st in the Midwest with a per capita personal income of $42,091. Per capita income in the state exceeded the national average by about 6 percent.
Education Minnesota’s population is one of the most educated in the nation, ranking 11th nationwide in the share of its population that has completed a Bachelor’s degree or higher. In 2007, an estimated 31.0 percent of the population in Minnesota aged 25 and older holds a Bachelor’s degree or higher, compared to 27.5 percent nationwide. Of the Minnesota high school graduates who chose to attend college in the state for the school year 2006-2007 (most recent data), 39 percent attended a community or technical college, 19 percent a state university, 19 percent the University of Minnesota and 23 percent a private college or career school. Nearly 60 percent attended a four-year college.
Quality of Life Tall buildings. Tall trees. Great nightlife. Great wildlife. And water, water everywhere. Whether you’re drawn to a shimmering night skyline or a glimmering night sky, you’ll be smitten by Minnesota’s astounding diversity of people, places, and things to do. Culture. Nature. Society. Economy. Health. Wealth. Happiness. By every conceivable measure our quality of life tops the nation.
Minneapolis is one of the world’s 25 most livable cities, according to a 2008 report by the British journal Monocle. Minneapolis joined such cosmopolitan cities as Paris, Barcelona and Amsterdam on the list with its cultural buildings, festivals, relatively low cost of living, and highly educated and healthy population. With 30 performance venues, the city has more seats per capita than anywhere in the U.S. except for New York.
8
General Market Overview continued
Minneapolis-St. Paul ranks seventh nationwide for recreational opportunities, according to Places Rated Almanac. The Twin Cities have more than 150 golf courses, about 63,130 acres of recreation areas, 192,000 acres of lakes and rivers, nearly 150 professional sporting events annually, more than 530 movie theater screens, two zoos and three amusement parks. Minneapolis-St. Paul is one of only 13 metropoli- tan areas with all four major league sports teams: Twins Baseball, Vikings Football, Minnesota Wild Hockey, and Timberwolves Basketball.
Minneapolis-St. Paul residents have access to seven state parks that cover more than 20,320 acres. These parks o er great opportunities for summer and winter activities such as swimming, canoeing, camping, hiking, biking, bird watching, cross-country skiing and snowmobiling. Minneapolis-St. Paul is home to the world famous Mall of America, the nation’s largest retail and entertainment complex including Nickelodeon Universe, the world’s largest indoor amusement park. More than 40 million visitors from around the world visit the Mall each year.
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Lakeville Commercial Property for Sale/Lease 10906 162nd St W, Lakeville, MN 55044 Business Market Overview
Industry & Commerce According to Expansion Management, Minneapolis-St. Paul was the second best metropolitan area for business locations in 2006. Rankings compare 362 metropolitan areas in public education, health care cost and availability, transportation and logistics infrastructure, quality of life, pool of knowledge workers, government in uences on the business climate and the metro areas' reputation among site location consultants. Based on indicators such as business cost, regulatory environment and quality of life, Forbes ranks Minnesota as the 14th best state for businesses in 2006. The state ranks particularly high in quality of life (3rd) and labor (14th).
More than 90 percent of the primary U.S industries are represented in Minnesota, making it no surprise that Goldman Sachs calls the state one of the most economically diverse in America. Minnesota’s strong economy makes it an ideal place to start and expand a business.
Minnesota’s dynamic economy has increased the number of Fortune 500 companies from 14 in 2000 to 19 in 2009. Overall, the state is home to 32 of the Fortune 1,000 companies, representing a wide variety of industries such as banking, chemical manufacturing and food processing. Even more impressive, Minnesota is second nationwide in the number of Fortune 500 companies per capita.
According to Dun and Bradstreet, Minnesota ranks 14th nationwide in the number of publicly-held companies (157) and 10th in public companies per capita. Minnesota is also a leader nationwide in privately-held companies. Minnesota ranks ninth nationwide with 16 companies among Forbes largest private companies by revenue. The state ranks second in the country in the number of Forbes largest companies per capita.
In 2008, Minnesota rms received $495 million in venture capital investment through 49 deals, ranking ninth nationwide and rst in the Midwest. The medical devices industries attracted nearly $290 million, or 59 cents of every dollar in venture capital investments in the state. Other industries receiving large venture capital investment were industry and energy ($91 million or 18 percent) and retailing and distribution ($56 million or 11 percent). Venture-backed rms have created more than 302,000 jobs in Minnesota, ranking 10th nationwide, according to a 2007 report by Global Insight.
Job Growth and Labor Force Minnesota and the Twin Cities area both have a growing job market and a labor pool with a tireless work ethic – essentials for a business’ success. Known for high productivity, high motivation and low absenteeism, our workforce is a key competitive advantage for companies of all types. Our healthy labor market boasts one of the highest labor force participation rates in the nation. Employment in Minnesota’s
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Business Market Overview continued
private industries was approximately 2.3 million jobs in 2006, an increase of 234,900 jobs, or an increase of more than 11 percent since 1997. Employment in Minnesota's services-producing industries increased 13.4 percent between 1997 and 2006, adding nearly 271,000 jobs.
Employment in Minnesota nance and insurance industries grew nearly 21 percent, to 142,100, adding about 24,300 jobs between 1997 and 2006. Employment in the U.S. in these industries was 17 percent. Examples of these industries include commercial banking and savings industries. Employment in Minnesota's health care services industries increased nearly 37 percent, to 353,500 and adding 96,300 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 22 percent. Employment in Minnesota's construction industries increased 38 percent, adding almost 36,000 jobs between 1997 and 2006. Employment in the U.S. for these industries grew 32 percent. Examples of these industries include residential building construction and heavy and civil engineering. Employment in Minnesota's medical equipment and supplies industries grew 25 percent between 1997 and 2006, compared to national growth of 2 percent.
Infrastructure and Technology Every successful business rests on a foundation of transportation, communications and energy infrastruc- ture, and Minnesota’s is rock solid. Our network of highways, railways and waterways makes it easy to get materials to the factory and nished products to markets worldwide. Located in the heart of the U.S. Midwest, we’re just a short ight away from any of North America’s major nancial or commercial centers. And with direct ights to key cities across the globe, our airport can put you face-to-face with overseas customers, distributors, partners and suppliers at a moment’s notice.
Minneapolis-St. Paul ranked third in transportation among the 20 largest U.S. metropolitan areas, based on commute (time to get to work), connectivity (Interstate Highways, passenger rail departures, interna- tional airline destinations) and centrality factors (how near a metropolitan areas is to others).
Wired or wireless, Minnesota’s telecommunications infrastructure and professional services are top shelf, delivering voice, video, internet and data communications in urban centers and rural reaches alike.
Minneapolis-St. Paul ranked fth among the 20 largest U.S. metropolitan areas in technology, as measured by an index from the Metro Competitiveness Report by the Beacon Hill Institute. Measurements included indicators such as patents per 100,000 residents and academic research and development expenditures.
Minneapolis-St. Paul is home to world-renowned high-tech companies such as 3M, Medtronic, St. Jude Medical, H.B. Fuller, Ecolab and Imation Corp. Other companies with a signi cant presence in the Twin Cities are Seagate Technology, Alliant Techsystems Inc., Honeywell Aerospace and Boston Scienti c.
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