Commercial Property & Real Estate News

Target Plans New Looks and Better Convenience for Stores NationwideTarget Corp. recently announced plans to remodel 28 Twin Cities stores this year as part of a $1 billion effort to revamp the look of 325 of its locations nationwide. Locally, the renovations, which target about half of the Twin City Target stores, will cost about $250 million, and this is the largest single market for 2018 updates, although approximately 325 stores nationwide are targeted for renovation this year. There are no plans for store closings during the planned remodels.

The flagship Target at Nicollet Mall in Minneapolis already sports the new decor, offering shoppers a sort of preview of what is to come chainwide.

Target Hits Bullseye with New Look

In addition to downplaying the chain's signature red color scheme in favor of

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Connectivity and Smart Buildings Represent the Future for BusinessNo one today would dispute the need for building-wide reliable communication. Business and commerce run on digital connections, and developers who underestimate the need for such services simply cannot compete in an increasingly technology-dependent world.

Speed and mobility are equally important to forward-looking companies. Even the terms are different. Networks that formerly supported landline telephones and fax lines, bulky desktop computers and other business machinery are no longer necessary in a voice and video-driven, cloud-based, wireless world. But the advances and the new efficiency have also brought new challenges; corporate tenants in both single structures and high-rise buildings have new and important demands. Designers and

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Uber Views Flying Cars as the Future of Urban CommutingTime spent in traffic is just as unpleasant for commuters in Minneapolis and St. Paul as lengthy train or bus rides are for residents of Delhi. Residents of sprawling Dallas and Los Angeles complain about the distances—and the time—it takes to get from one suburb to another, or from the airport to the urban core. Globally, from Sydney, Australia to Paris, from Hong Kong to Delhi, business travelers yearn for faster, more efficients ways to get to work.

Now, the company that pioneered alternative transportation options, Uber, cites the topic of "commute pain" as a key component of the latest innovative transportation solution on its drawing boards.

Urban Air Mobility

Sprawling Big D and LA are two launch cities that have been selected for

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Urban Agriculture Serves New Needs by Offering Free FoodAmong the exciting emerging trends in the way Americans are choosing to live in today's market, the growing popularity in urban agriculture makes a lot of headlines. Not only is free food a feature of some urban forests, but residential vegetable plots, farmstands and farmers markets, community gardens and rooftop greenhouses have taken root. All of which matches recent growing trends in more eco-friendly cityscapes. Fresh food in the city is no longer just for self-proclaimed foodies and upscale restaurant chefs. The new mindset takes many forms, and is differently defined in different locales, but there is no denying that a kind of food revolution is in process. City planners, restaurant chefs, food banks, health-care providers and for-profit

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Younger Workers Fuel Growth of Minneapolis Apartment and Office MarketsAfter an especially long winter, there seems to be good reason to be optimistic about the future of commercial real estate, especially office space, in downtown Minneapolis, according to April reports. The urban core, apparently, is where workers want to be.

The buzz for a couple of seasons now has been that the current cycle is in its end stages. Since it is common wisdom that real estate is cyclical, that led to some foreboding and "what if" discussions. However, there is now, based on data from the National Real Estate Institute, ample reason to believe that the good times are not slated to end just yet, particularly in the office sector. The expectation is upbeat; forecasts remain bullish for rents and occupancies.

Investor Outlook for

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Minneapolis Light Rail Extensions Face Logistical Funding ProblemThe Green Line was a huge success story for the Twin Cities. In 2014, when the light rail line connected Minneapolis and St. Paul, there was cause for celebration. And the cities have been enamored by the 11-mile stretch of track—dubbed the Green Line—that brought the two cities together for the first time in more than 60 years. On the first day, more than 45,000 people rode from one downtown to the other, with stops at 23 stations in between.

It was a day to remember, but getting to that point was not without controversy. It took more than eight years of active planning and actual construction, not to mention decades of political maneuvering. St. Paul was hesitant and hard to bring "on board" during the planning, partly because the bulk of the

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How to Reconcile Affordability with Business Development and DemandAffordability has long been a relative term, but housing affordability is a complex issue. One the one side, rising rental rates are good for business, and the real estate and development communities in the Twin Cities, particularly in Minneapolis, point to higher rents as reason enough to keep building downtown high rises and renovating older buildings into chic new apartments.

The other side of the coin, of course, is the fact that higher rents force some potential renter further from the downtown core, and many people just entering the job market find that they cannot afford to rent anywhere near their places of employment. It's a sad fact, notably in major urban centers like San Francisco, Boston and Austin, Texas. It's also becoming so in

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The New Look of Business Travel Focuses on a Digital LifestyleFrom high-tech and homey amenities for today's business traveler to "staycation" packages that encourage getting away in style, there's a new breeze blowing through the hospitality industry. New hotels in the Twin Cities are right in step with the times. Major chains as well as "one off" boutique establishments recognize the value of providing singular experiences for today's discerning travelers.

The Trendy Look of European Business Convenience

The big news, however, may be the new wave of airport hotels that boast complimentary shuttle service, futuristic decor, simple sleeping rooms filled with hi-tech amenities, and public spaces offering a sense of community, comfortable work space, socializing options and food and refreshment service

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U of M Grows Once Again with New Academic CenterFollowing two years of trying, work on the University of Minnesota's new Health Sciences Education Center is scheduled to begin with the demolition of two existing buildings within a couple of months, but it will take another two years or so before the new facility will finally be completed. Groundbreaking was Tuesday, February 13, for the $108.6 million dollar project that had the governor's blessing but spent two years in front of the state legislature before funds were allocated. It will become the "front door" to the university's academic health center, and will help to attract top students, according to university officials.

Groundbreaking Initiates Long Awaited Project

The Health Sciences facility is not the only project underway at the

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How Small Businesses Can Use Solar Power to Get AheadSolar power is a practical option for small businesses, not just Fortune 500 companies. Not only do solar panels help the environment, but they can also bring in financial benefits for small business owners who seek to reduce their monthly utility bills. Because in recent years solar has become more affordable, installation can fall well within the budget for small business owners, making it a more viable option than it has been in years past. Small- and mid-sized business are finding out that commercial solar panels can provide a solid return.

Businesses may not be aware of the grants and government support available to improve energy efficiency. Additional incentives provide additional motivation to take advantage of solar power.

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