HomeMy WebLinkAbout5.b. Exec Sum business status updateEXECUTIVE SUMMARY
Port Authority MeetingDate:August16, 2016
AGENDA SECTION:
AGENDA ITEM: Retail Update
OldBusiness
PREPARED BY: Kim Lindquist, Deputy DirectorAGENDA NO. 5.b.
ATTACHMENTS: Vacancy List, Business Contact ListAPPROVED BY:
RECOMMENDED ACTION: Information Item
ISSUE
Staff has updated the retail vacancy rates;this listing represents the vacancy rate after the second quarter of
2016. The vacancy rate is the same as after the first quarter of 2016, 4% for the centers we track. There
were no changes in vacancies.
Also included is a listing of contacts staff is using in our quest to bring more commercial uses to the
community. There are several people affiliated with various aspects of hotel development which are noted.
Staff continues to follow up with some of them although we seem to be in the same position; where to get
the investors to make the hotel happen. There are some brokers we contact intermittently and we keep in
contact with the representatives and land owners of the main industrial, business park, and commercial
land for development.
If the Port Authority members have business or broker contacts that they have made contact with, they
can be added to the list.
RECOMMENDATION
Information Item.
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;!:
Pi
Last Contact
last contact week of 8/8/2016thanked for visit/will follow up in springCalled to let him know we are in hold patternhaven't received any responselast contact week of 7/11/2016last contact
week of 6/20/2016current application for apartmentsemails week of 8/8/2016left message week of 8/1/2016email week of 8/8/2016email week of 8/18/2016last contact week of 8/1/2016last
contact may 2016meeting in april 2016awaiting callback-Dan from Parks and Reclast contact week of 8/8/2016
Comments
ongoingfollow up in springwilling to speak with intersted parties2 phone calls/one emailwill meet when visits MN/several emails and phone conversationsmay be intersted in partnering
on hotel/convention centermay build hotel after apartment project underwayBrokerreal estate managerBroker/ cambridge commercialHyVeeCushman WakefieldCerron Kraus Andersonfollow up with
Parks & Administratorawaiting contract discussions
Contact
Michelle Vander VegthMike BerkopecLarry FeiersteinNeal DesnmoreRichard SprecherBrandon BarthWarren IsraelsonTed GonsiorAshley MackRoger LenahanPhil HoeyJames McCaffreyBruce RydeenCasey
HankensonDam Corley/Brian FarrelDale Glowa
Prospect
BUSINESS CONTACT LISTAmericInnFranchiseeWyndham Hotel GroupHotel consultantHotel consultantColliersMeijerFresh ThymeHyVeeAkron Ave commercial areaHwy 3/Cty Road 42Business ParkDakota
FieldhouseUMORE
Type
HotelHotelHotelHotelHotelHotel/RestaurantHotel/RetailCommercialCommercialCommercialCommercialBrokersBrokersBrokersOtherOther
8/12/2016
updated