Now that the Vikings are playing in their new stadium, it seems there's a lot of construction and development activity in the area. Here's an overview of what's planned and a look at what it might mean for the future of East Minneapolis.
Hint: It's looking good!
Big Ideas
The Strategic Plan for Downtown East and the area surrounding the stadium was always visionary and, perhaps, a bit grandiose. But now it seems as if it's on the way to becoming reality. Between the U of M and downtown's business district, Minneapolis East has always been vibrant. With ample open space, old buildings and residential areas ripe for repurposing, an efficient transportation network, an employment pool to draw from, economic drivers and some other factors that seem
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Instead of "a chicken in every pot," or a car in every garage, the modern epitome of lifestyle convenience might be a walk-in clinic on every corner. At least in some upscale suburban areas, this informal version of a licensed medical facility has become a trendy amenity and a big business opportunity for smart investors.
With vacancy rates down, rental rated up, and dollar value transactions soaring at the the end of 2016, forecasters see good times ahead in Minneapolis for investment in the apartment market. They also see a definite swing toward value-add development, with a continued demand for more apartment units despite record-breaking volume over the previous three quarters.
As the owner of property for lease or rental, there are advantages of offering a triple net lease (NNN) to prospective tenants. The actual rental dollars received from a triple net lease arrangement might be lower than the market average, but the advantages in terms of cash outlay for expenses such as taxes, utilities and maintenance can constitute great value over the long term.
After approximately two years on the market, the sale of the Sheraton Midtown Hotel was announced in late November, but at a price substantially below the asking price.
As a commercial investor, whether you have a single office building or a portfolio of residential rental properties, you know that the key to success and profits is to keep your occupancy rate high.
Mini warehouses are a great way to establish an income stream while preserving the ability of commercial or industrial land to realize its full value potential, or for surrounding development to "catch up".
They're popping up all over the country. From Austin to New York City, Peoria to Poughkeepsie, and Sarasota to Seattle, co-working spaces and shared offices are just about the hottest item in commercial real estate.
There are a lot of opportunities in Minneapolis/St. Paul to rehab smaller commercial buildings and strip centers, turn older homes into modern office buildings, and generate income from four-unit apartment buildings.