April 2009 Minnesota Shopping Center Association Vol 23. No 4 In this Issue New Prague ----------- SNAPSHOT 1 Job Opps ----- HOT SPOTS / COLD SNAPS 3 MSCA Staff -------- COMMITTEE CHAT 4 Mossey/Marfori --- MEMBER PROFILES 5 LEEDing ------------ PROGRAM RECAP 6 Historic Anoka ------- RISING STAR 7 Connection Feature by Andy McDermott, Shea, Inc. On the Brighter Side early March, a viewer sent an email to Brian Williams, In her article, she makes the argument that despite media anchor of the NBC Nightly News, saying, “We all gloom and doom, there are positive things taking place and Inknow it’s bad, but the news makes us feel like that a positive perspective can ease our psyche and help crawling under a rock.” In response, Williams made a plea us avoid panic mode. Rather than tugging at our at the end of a Wednesday night broadcast: “We’re looking heartstrings, James gave real data on positive advances in for good news. Nominate people doing good work, perhaps this economy. She also related inspiring stories of how, a random or regular act of kindness in a cruel economy, historically, economic recessions have forced bright minds and we’ll tell some of their stories.” to find creative solutions to problems, often resulting in revolutionary development strategies or unique start-up Within days he received thousands of e-mails of people companies. She made us remember that there is progress, telling stories of hope and optimism: a man who gives cans even now. of gas to people whose cars have run out; a landlord who decided to reduce rent and help his tenants pay bills; a Local Perspective woman who gives money to strangers on the street. For many of us feeling the serious negative effects of the Some positive things are happening on the retail landscape economy, such stories can seem cloying, but Williams’ right here in Minnesota. Companies are exploring the attempt to lift people’s spirits has its merits. market, banks are lending, people are spending, leases are being signed and encouraging developments are taking Psychologically, we need the good news in order to place from small-scale start-ups to some pretty big deals. persevere, and it is nice to hear it from time to time. Natina James was on the right track in last month’s MSCA Dunkin’ Donuts made a big announcement in August last Connection’s feature story, “Putting It All Into Perspective.” year that they wanted to open more than 100 stores in Snapshot New Prague Commons HOSPITAL STATE TRUNK HIGHWAY 19 13 SITE Location: Highway 19/13 (Main Street), New Prague ROUND ROUND ABOUT ABOUT Month/Year Opened: May 2008 . AVAILABLE OUTLOTS E . A A S L T E O WALGREENS U N Owner/Manager/Leasing: William R. Abel and David Reimer, N A E V V SITE E A N Urban Associates, Inc. (952) 921-5820 U KY E N S . E LUPS . GLA: 60,000 sf; outlot pads available CHA outside sales Current Occupancy: 93%; 1,900 sf endcap with drive-thru RETAIL PARKING EXPANSION available Anchor Tenants: Coborn’s Superstore Grocery (45,000 sf) EXPANSION RETAIL COBORN'S Additional Facts/Narrative: Exceptional location between two EXPANSION CAR AVAILABLE OUTLOT GAS SERVICE WASH new roundabout intersections. Available in-line space and expansion space from 1,200 sf. Available front outlot pads from SITE PLAN 1 acre, ideal for bank, restaurant, and professional office uses. msca-online.com 1 MSCA Connection April 09 Brighter Side - continued 2009 Sponsors Minnesota over the next few years. With development includes a 16-screen over 7,900 restaurants in 30 countries Kerasotes ShowPlace Theatre, a new 56,000 ACI Asphalt Contracts, Inc. worldwide, Dunkin’ Donuts is the top retailer sf Roundy’s flagship concept grocery store, American Engineering Testing, Inc. of hot and iced regular coffee-by-the-cup described recently by the company as a Aspen Waste Systems, Inc. in America, and the largest coffee and “state-of-the-art urban shopping Bremer Bank, N.A. Brookfield Properties baked-goods chain in the world. The experience,” as well as a blend of unique CB Richard Ellis Massachusetts-based company is pushing shops and restaurants. CSM Corporation its U.S. expansion, looking to triple its Parasole Restaurant Holdings is launching a Cambridge Commercial Realty franchise locations in the U.S. within the next Chesapeake Companies new concept in the former Applebees spot ten years. Chuck & Don’s Pet Food Outlet in Calhoun Village in Minneapolis. The 4,500 Classic Asphalt Sealcoating Co., Inc. Dunkin’ Donuts is seeking franchisees for five sf space will be converted to a boutique Coldwell Banker Commercial territories within the Twin Cities area, with a burger concept called Burger Jones, which Griffin Companies minimum requirement of 20 stores each. Parasole plans to open in May 2009. Cuningham Group Architecture, P.A. Minnesota native Peter Turner has signed Cushman & Wakefield of Chuck & Don’s Pet Food Outlet continues to Minnesota, Inc. on as the first franchisee with a grow and according to Director of Dick’s Sanitation, Inc. commitment to do at least 20 restaurants in Operations, Dana Andresen, things keep Dougherty Funding LLC southern Hennepin County and throughout Emmes Realty Services LLC getting better. The company currently has Carver County. Gregory Gradel, of Dunkin’ Exeter Realty Company seen seven consecutive years of double- Donuts corporate franchise sales in New Faegre & Benson LLP digit same-store growth, with all 13 of their Jersey, stated at the Upper Midwest Fendler Patterson Construction, Inc. locations contributing to this growth. They Fredrikson & Byron, P.A. Foodservice Conference in February that have plans to open two new stores in Gray Plant Mooty they were very close to signing at least March, and later this year they are sourcing Great Clips, Inc. three more franchisees with similar the next location for a potential opening in H.J. Development, Inc. commitments. Inland Real Estate Corporation the first quarter of 2010. The company has JE Dunn Construction In February, Buffalo Wild Wings announced plans to open 1-2 stores a year for the Jones Lang LaSalle/Rosedale Center impressive 2008 fourth quarter results. foreseeable future. On top of that, they are KKE Architects, Inc. President and CEO Sally Smith stated, “For increasing their charitable giving and Kraus-Anderson Companies the full year of 2008, we increased our community involvement, which is Larkin Hoffman Daly & Lindgren Ltd. number of locations by 67 units, built our Andresen’s passion. In 2008, the company The Lawn Ranger, Inc. top line revenue by over 28%, and spent over $65,000 on cause marketing and Leonard, Street and Deinard M & I Bank delivered net earnings growth of more than over 160 pets were adopted through their McCombs Frank Roos Associates 24% to our shareholders…We believe our in-store foster agreements and adoption Messerli & Kramer P.A. 2009 annual goals of 15% unit growth, 25% events. Mid-America Real Estate – revenue growth, and 20% to 25% net Minnesota LLC Hot Mama, the stylish boutique for moms and earnings growth are achievable.” Total Midwest Maintenance & moms-to-be, just opened another store in Mechanical, Inc. revenue increased 32.6% over last year to March in Naperville, Illinois. This concept, Minneapolis/St. Paul Business Journal $121.2 million and company-owned developed by Minnesota couple Megan and Minnesota Real Estate Journal restaurant sales grew 35.7% to $109.8 Mike Tamte, has grown from the first boutique NAI Welsh million. Buffalo Wild Wings currently has 567 at 50th and France in Edina to 11 locations in NorthMarq locations across 39 states. Olsson Associates less than five years. Since the launch of the Oppidan, Inc. The Mall of America recently brought some Edina store, this popular destination has truly Opus Northwest LLC new concepts to this market, notably the taken off, with four Twin Cities locations, four Park Midwest Commercial Real 22,000 sf American Girl store and the slick stores in Illinois, as well as stores in Michigan, Estate new concept stores from Best Buy and Colorado and North Dakota. Paster Enterprises Nike. Coming soon is a Noodles & Co. RJ Marco Construction Inc. Looking Ahead RLK Incorporated outpost, and the vacated 9,400 sf California RSM McGladrey, Inc. Cafe space will soon be filled with a In doing my research for this article, it Reliable Property Services second Crave restaurant location. honestly wasn’t that difficult to find positive Reliance Development Company, news. In fact, I was asked to trim the article LLP The owners of Crave, brothers Kam and Robert Muir Company Keyvan Talebi, recently made a substantial because there was more content than this Robins, Kaplan, Miller & Ciresi, L.L.P upgrade to the original Galleria Edina month’s newsletter space allowed. As we Ryan Companies US, Inc. location, and in February unveiled a stylish continue to navigate our way through Solomon Real Estate Group Inc. glass-enclosed four-season patio adding these difficult times, it is stories like these Stewart Title Guaranty Company 1,000 sf and giving them an additional 66 that offer glimmers of hope and indicate a Sunde Land Surveying, LLC TCF Bank seats. Their ambitious plans for 2009 include turnaround is near. It all comes down to keeping a realistic yet positive perspective Target Corporation the new MOA site, set to open in April, as U.S. Bank well as a recently inked deal for a 7,500 sf because, as each of these companies is United Properties location in the Shops at the West End demonstrating, opportunity does exist. Venture Mortgage Corporation development in St. Louis Park. They plan to Wells Fargo Bank, N.A.