HomeMy WebLinkAbout4.c. Commercial VacanciesEXECUTIVE SUMMARY
Port Authority Date: January 20, 2015
AGENDA SECTION:
AGENDA ITEM: Commercial Vacancies
New Business
PREPARED BY: AGENDA NO. 4
Kim Lindquist, Deputy Director .c.
ATTACHMENTSAPPROVED BY:
: Spreadsheet K.L.
RECOMMENDATION:
Information Item
SUMMARY
Periodically, staff inventories the commercial properties in the City to ascertain the local retail
vacancy rate. Most of the retail centers are included in the survey. We are in contact with many of
the brokers representing these properties. At this time, there is a 7% vacancy rate in the community,
which is slightly less than what was experienced last year, which typically ran around 9%. However,
soon, Anytime Fitness will vacate Rosemount Crossing which will increase the vacancies at that
center, which are currently high. Staff is also speaking with the broker at Rosemount Market Square
about a possible expansion at that center. The building was initially approved with a 15,000 square
foot expansion on the east side of the Center.
RECOMMENDATION
Information Item.
MANAGEMENT COMPANY
Kraus-Anderson Realty
Mid America GroupMid America Group
Company
USA Karate & Platinum Yoga
Park Dental Rosemount
Chuck & Don's Pet Food
Orchid Nails and Spa
Rudy's Redeye Grill
CURRENT TENANTS
Greenleaf Tobacco
Verizon Wireless
Starbucks Coffee
Anytime Fitness
Fantastic Sams
Caribou Coffee
Eddie Cheng's
G:\\2015\\Port Authority\\01-20-15 Meeting\\Available Retail Space
Impress Nails
Little Caesars
Cherry Berry
Giuseppes
Cub Liquor
Cub Foods
VACANT
O'Reilly
VACANTVACANTVACANT
ALDI'sSprint
GNC
SPACE Square Feet
Bay 1 - 70,716
Bay 3 - 1,500 Bay 6 - 1,320 Bay 7 - 1,540 Bay 10 - 1,615
Bay 2 - 4,560Bay 4 - 1,500Bay 5 - 1,500Bay 8 - 4,280Bay 9 - 1,450
15,495
COMMERCIAL SPACE - 1/16/15
6,3673,0411,1671,9771,4214,8811,4441,4215,0912,9651,9441,4216,0401,3001,655
89,98148,635
8,4568,9951,300
17%14%
0%
0
Total Available Square FeetTotal Available Square FeetTotal Available Square Feet
Rosemount Crossing
Chippendale Center
Percentage VacantPercentage VacantPercentage Vacant
Rosemount Village
Total Square FeetTotal Square FeetTotal Square Feet
MANAGEMENT COMPANYMarket Place Commercial
Upland Real Estate Group
Mid America Group
Kumon Math and Reading Ctr (15071)
Lakes Tailor & Cleaning (15059)
Rosemount Eye Clinic (15083)
MGM Wine & Spirits (15047)
Papa Murphy's Pizza (15043)
Ten Tiny Toes Photography
Scott Chiropractic (15067)
Get in Shape for Women
Summit Dental (15031)
Suzie's Kitchen (15023)
Nivala Salon (15039)
Los Tortillas (15051)Fuji Grill & Sushi Bar
Fireside Restaurant
CURRENT TENANTS
Pizza Hut (15090)
Subway (15075)
The Dollar Tree
House of Curry
Legacy Games
Lavin Lacrosse
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Jimmy Johns
H & R Block
Great Clips
China Wok
USA Nails
The Pond
VACANTVACANTVACANT
SPACE Square Feet
19,28610,000
6,4101,2801,2808,1151,2801,2801,3447,0111,7891,3701,3642,4781,3761,4111,7501,4221,4221,0741,6801,3821,4201,750
61901730
540
40,81516,79917,92011,900
1,2801,4111,420
12%
3%8%
00
Total Square Feet (Building 2)
Total Square Feet (Building 1)
Total Available Square FeetTotal Available Square FeetTotal Available Square FeetTotal Available Square Feet
Rosemount Market Square
Rosemount Village Center
Percentage VacantPercentage VacantPercentage VacantPercentage Vacant
Total Square Feet
Total Square Feet
Celtic Crossing
MANAGEMENT COMPANY
Stonebridge Companies
Dr. Kurt Walter-Hansen
The Lorenz Clinic of Family Psychologists(Suite 112)
The Clubhouse Preschool & Daycare
Rannells Rowan Law Firm (Ste 116)
Everett & Vanderwiel (Suite 114)
Orthodontic Care Specialists
Church on a Hill (Suite 101)
Wish Boutique (Suite 111) MN Top Team (Suite 110)
Quilter's Haven (Suite 108)
Salon 104 (Suite 103)
VACANT (Suite 107)
CURRENT TENANTS
Simply Massage
FTTH (Suite 105)
G:\\2015\\Port Authority\\01-20-15 Meeting\\Available Retail Space
Bella Pizza
VACANTVACANT
SPACE Square Feet
1,2222,0312,6501,2732,459
91022423173616111545
724390800639811
264,461
12,99916,41717,485
2,0731,545
16%
9%7%
Total Available Square FeetTotal Available Square Feet
Total Vacant Square Feet
Waterford Commons
South Robert Square
Percentage VacantPercentage VacantPercentage Vacant
Total Square Feet
Total Square FeetTotal Square Feet