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Home My WebLink About4.a. Development UpdateEXECUTIVE SUMMARY Port Authority Meeting Date: November 14, 2016 AGENDA SECTION: AGENDA ITEM: Business Updates New Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO.: 4.a. ATTACHMENTS: Building Activity Report, Call APPROVED BY: Spreadsheet RECOMMENDED ACTION: Information Item ISSUE Over the last year the City has experienced more commercial and industrial development than any of the last ten years with the exception of 2014. Attached is the Building Activity Report which indicates that C/I valuations are up to $24,615,103 for the first 10 months of 2016. For comparison, 2015 had C/I valuation of $12,078,721 for the entire year. The valuation is the project value, not including land, as estimated by assessment calculation. Obviously the greater the project values, the greater the overall tax base in the community. The following list highlights all 2016 projects over $100,000 in value: th Chipotle $325,000 Commercial Alteration 3390 150 St W Cemstone/T.C.C. Materials $300,000 Addition 15051 Biscayne Ave th $215,000 Commercial Alteration 3380 150 St W th First State Bank of Rosemount $750,000 Commercial Remodel 3025 145 St W th Cub Foods Liquor $278,675 Commercial Remodel 3784 150 St W th Hardrives, Inc $545,693.60 Industrial New 1010 158 St W Flint Hills Resources $500,000 Industrial New 13775 Clark Rd th Hardrives, Inc $1,815,558 Industrial Tank 1010 158 St W th Caribou Coffee $145,000 Commercial Remodel 3868 150 St W Institutional Projects and not calculated in the C/I valuations Rosemount Mosque $561,000 Commercial Remodel 15400 Robert Trl S Alliance Education Center $2,359,000 Addition 14300 Biscayne Ave Here is a quick update on several of the projects currently underway in the community: The Arbys/Chipotle work continues. It is estimated that the Arbys may be open by then end of next week. Chipotle is hoping to be open in mid to late December. Cub liquor is completed demolition work in the new space and it is estimated the new construction will take another month. Relocation of Impress Nails to the Celtic Crossing has been started and they hope to reopen in the next week or two. The Caribou drive-thru and interior work is completed. Hardrives has finished one of the site storage tanks and the second tank is under construction. They also have the footings and foundation done for their lab and storage buildings. Footing and foundation work has occurred at First State Bank and framing work at the Rosemount Mosque. The permit for the Alliance Education Center was recently picked up. They do plan on working over the winter. Included is the contact spreadsheet listing the Port Authority has seen before. It was updated to include a recent meeting with Dunkin Donuts representatives, who asked about potential locations in Rosemount. Their criterion was has had in response to our email campaign to introduce Rosemount to various brokers and businesses. We obtained the initial contact information from the ICSC directory and forwarded info about the community. As you can see many did not respond to our first or second emails. However, we did get some expressed interest and also indicates that people are watching Rosemount as a future potential market. The Downtown Task Force continues to meet monthly and has developed some redevelopment or renovation ideas for the majority of blocks within the Downtown. To aid in their work, a market study was commissioned for the Downtown. This would be an update to the previous study in 2004 which influenced the first Downtown Framework. While the City tries to highlight available commercial and industrial land in our mailings, most properties have brokers whose job is to market the property. I contacted the two commercial brokers for the properties located north of County Road 42, east of Hwy 3. Andrea Kaderlik responded to my inquiry: For national broadcast emails, we use Property Blast (or Big Boys Blast) on a quarterly basis for our listings and while they state that there are 90,000 active brokers in their database, our statistics show that approx. 3,000-3,500 opens occur per mailing For local broker broadcasts, we use the MNCAR broker broadcast system (via Xceligent) on a monthly She also indicated she would forward one of the email blasts to me when they go out. James McCaffrey from Cushman Wakefield is the representative for the commercial land on both sides of Akron Avenue, north of County Road 42. I met with him two weeks ago and discussed some of the residential projects that have recently been approved in the area. He is working on updating their marketing to include these projects and will provide an updated piece when complete. RECOMMENDATION Information Item. 2 847-302-1419612-860-6255952-270-1600 Broker contact info # Don Lyon 847-981-8090 don@greatstreetreality.com 952-294-5229763-242-0576303-656-7810847-517-6900602-338-2828612-961-7972952-897-7744952-933-0042515-267-2861612-347-9355612-492-4817612-301-1286thomas_maroney@tjx.com contact info email mvandervegte@americinn.commikeberkopec@gmail.comlarry.feierstein@wyn.comrichard.sprecher@aimhosp.comdseverson@cbcgriffin.comjecolby@thecolbygroup.comceltspub@yahoo.comwarren@kjwalk.comTed.Gonsior@col liers.comrogerl@cambridge-commercial.comphoey@hy-vee.comjames.m.mccaffrey@cushwake.comCasey.hankinson@ryancompanies.comglowa016@umn.comamber.tatum@hobbylobby.comdonna.capichano@shopko.comkevin.beegle @joann.comweibyel@michaels.comdcalvin@partycity.commmason@ngkf.comduane.boris@northerntool.comeric.bloch@dcsg.comjholmes@maurices.compatrick.cairns@kohls.comsmeyer@midamericagrp.comjegordon@ashleyfur niture.comjaime.lara@advance-auto.commarisa.dille@redwingshoes.comwspencer@lululemon.comparmstrong@totalwine.comfrank.ludwig@autozone.combamkraut@petsmart.comrealestate@basspro.competer.russell@bedba th.commary.cassellius@bestbuy.comkevinday@biglots.comdavid.birmingham@mybobs.comBradfordT@booksamillion.comrkehm@brooksbrothers.comgdarus@buffalowildwings.comscott.jennerich@carters.comcolin.gromley@ chick-fil-a.commark.hoffman@chicos.comdfauchald@christopherandbanks.comjeff.gaul@corepoweryoga.commcarl@crateandbarrel.comjmcphee@dwr.comk.jofre@desigual.commsimpson@mydollarexpress.comsteveramey@dsw inc.commichael.lavigne@dunkinbrands.comJustin.Armbrister@fedex.comnzelazoski@fiveguys.comdbrodbeck@footlocker.com marcsummey@gamestop.comrobert@guitarcenter.commcmaggart@helzberg.comjames.chickini@la -z-boy.commarina.marchik@lanebryant.commark.a.stoner@lowes.comjcopley@massageenvy.comgiovanni.scotti@nike.comjpodell@podellre.comskraus@oreillyauto.comrobert.kranz@officedepot.comneil.hansen@payless. comchrisb@perfumania.comTom.Farello@petco.comtwald@petsmart.comwtbiskamp@pier1.comjosh.beyer@pfhq.comkaren.elsbury@potbelly.comcnewsom@rei.comcarnott@roomstogo.comjohn.key@selectcomfort.combrian.treb er@target.comnstankovich@aldogroup.comcedmundson@finishline.comgeorge_drummey@tjx.comhawlin.wu@toysrus.com 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 7/11/2016emailed info 8/26mtg 8/23 follow up with Brandon and Warrenlast 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 10/25'2016last contact may 2016meeting in april 2016awaiting callback-Dan from Parks and Reclast contact week of 8/8/2016AV store serves RosemountAV store serves Rosemountlease for site in general region that will satisfy demandjust opened in WBL; see how that does before any more expansionTed Gonsior Called/no expansion; buying some Sports Auhority sitesNot expanding in this areaStefanie Meyer 952 563 6677 mid-americajpalmer@dunhamshq.comnot expanding in MN, looking east & southCassellius, Mary <Mary.Cassellius@bestbuy.com>need 100,000 people Rosemount is not a target for adding a restaurantSara Martin 952 897 7723 not right now but looking around area. Needs more daytime people; sent her the DEED info. (Welsh Company) smartin@welschco.comnot looking in Metro right nowtoo far out/too close to AVNot looking to add a store in Mpls at this timenot at this timenot expanding into this marketlooking for smaller developments;incomes too highmet with franchise; interested in rosemount looking for sitesbad emailwants population of 150,000; 15-minute drive timeNot looking to add a store in Mpls at this timeclients not looking in this market right nowsbayton@persmart.com--Steve BaytonReal estate Mriley@pier1.comRowena.Ancheta@Potbelly.c om use this contactnot coming to MN Comments ongoingfollow up in springwilling to speak with intersted parties2 phone calls/one emailwill meet when visits MN/several emails and phone conversationson vacation will follow up when back, early to mid-septemberlooking for retail/restaurant/hotel complex, costs too high?may 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 discussionsemail sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12 9/30She asked for info on 2 retails sites and toured locations; not at this timeemail sent 9/12email sent 9/12 to wrong person; contact John Palmeremail sent 9/12email sent 9/12, 9/30 email sent 9/12 email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12, 9/30 new contactemail sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12; 9/30email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12, 9/30 new contactemail sent 9/12, 9/30 email sent 9/12, 9/30 new contact Mark Simpsonemail sent 9/12email sent 9/12email sent 9/12 to wrong person; contact Justin Armbristeremail sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12, 9/30 new contact opening in Lakeville, too close right nowemail sent 9/12, 9/30email sent 9/12email sent 9/12email sent 9/12email sent 9/12, 9/30email sent 9/12email sent 9/12email sent 9/12email sent 9/12email sent 9/12; 9/30 forwarded to Tom Maroneyemail sent 9/12 Contact Michelle Vander VegthMike BerkopecLarry FeiersteinNeal DensmoreRichard SprecherDale SeversonJohn ColbyBrandon BarthWarren IsraelsonTed GonsiorAshley MackRoger LenahanPhil HoeyJames McCaffreyBruce RydeenCasey HankensonDan Corley/Brian FarrelDale GlowaRandy ChildersDonna CapichanoKeven BeegleLance WeibyeDouglas CalvinMichael MasonDuane BorisEric BlochJeff HolmesPatrick CairnsMark GambillJeff GordonJohn PalmerJaime LaraMarisa DilleWynn SpencerPhillip ArmstrongFrank LudwigBrian AmkrautMichael DunhamPeter RussellBuddy DavenportKevin DayDavid BirminghamTyler BradfordRoger KehmGregory DarusScott JennerichColin GromleyMark HoffmannDonna FauchaldJeffrey GaulMarci CarlJohn F McPheeKatherine JofreDavid HanderaStephen RameyMichael LaVigneJustin ArmbristerNathan ZelazoskiDouglas BrodbeckMarc SummeyRobert StannardMitch MaggartJames ChickiniMarina MarchikMark StonerJames CopleyGiovanni ScottiJoshua S PodellScott KrausBob KranzNeil HansenChristopher BeresfordTom FarelloTimothy WaldBill BiskampJoshua BeyerKaren ElsburyCurt NewsomCharles ArnottJohn KeyBrian TreberNick StankovichChad EdmundsonGeorge DrummeyHawlin Wu Prospect BUSINESS CONTACT LISTAmericInnFranchiseeWyndham Hotel GroupHotel consultantHotel consultantColdwell Banker/Griffin CoThe Colby GroupColliersMeijerFresh ThymeHyVeeAkron Ave commercial areaHwy 3/Cty Road 42Business ParkDakota FieldhouseUMOREHobby LobbyShopkoJoann FabricsMichaels Stores Inc.Party CityHarbor FreightNorthern Tool & EquipmentDick's Sporting GoodsMauricesKohl'sFleet FarmAshley FurnitureDunham's AthleisureAdvance Auto PartsRed Wing Shoe StoreLululemon AthleticaTotal WineAutozonePetsmartBass Pro ShopsBed Bath and BeyondBest Buy Big LotsBob's Discount FurnitureBooks-A-MillionBrooks Brothers GroupBuffalo Wild WingsCarter'sChick-fil-AChico's Christopher & Banks CorePower YogaCrate & BarrelDesign Within ReachDesigualDollar ExpressDSW Dunkin' DonutsFedEx Office and Print ServicesFive GuysFootlocker GamestopGuitar CenterHelzberg DiamondsLa-Z-BoyLane BryantLowe'sMassage EnvyNikeNine WestO'Reilly's AutoOffice DepotPayless ShoesourcePerfumaniaPetcoPetSmartPier 1 ImportsPlanet FitnessPotbelly Sandwich WorksREIRooms To GoSleep NumberTarget CorporationAldoThe Finish LineT.J. MaxxToys R Us Type HotelHotelHotelHotelHotelHotelHotelHotel/RestaurantHotel/RetailCommercialCommercialCommercialCommercialBrokersBrokersBrokersOtherOtherRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetai lRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetail RetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetailRetail 8/12/2016 updated