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HomeMy WebLinkAbout5.c. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: January 15, 2019 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 5.c. ATTACHMENTS: Retail Strategies Update APPROVED BY: LJM RECOMMENDED ACTION: Information Item ISSUE For the last year there has been a “project updates” item on the agenda. The item contains updates from Retail Strategies along with information from City Staff. Any questions can be addressed during this section of the agenda. The latest update sent to the Port is pasted below: RETAIL Applebee’s: The property representative has indicated they are close to an agreement with a financial service company. Planning staff has been talking to the user who is planning on making formal application later this month. Multi-tenant Retail: Staff received the application for planning review for the multi-tenant building. The item is scheduled for the January 22, 2019, Planning Commission meeting. Warren’s property: Nothing new regarding the commercial sites. Merchants Bank site: The potential user continues to wait on a response about acquisition. Akron Ave: One of the owners indicated they have not received any interest in commercial use of the site. He asked about the City’s plans for a recreational facility and is interested in working with the city about placement of the Recreational Center on site. Lennar is planning to propose construction of the remaining residential townhome properties, north of the eastern commercial site (across from CDA Townhomes), which will provide additional activity in the area. MGM retail space: The realtor indicates she is working with a potential client. 2 Downtown Redevelopment: Additional information was provided from the developer and additional background work is needed. This is a long-term project. INDUSTRIAL OPUS/UMore: Staff met with UMore, Xcel & DEED representatives to discuss streamlining responses to RFP’s and future marketing. There is some interest from new users for the sites. Rosemount Business Park: Nothing to report. RECOMMENDATION Information Item We make retail happen. RETAIL RECRUITMENT UPDATES •National Sandwich Restaurant –As we updated on basecamp this deal has been completed on the site next to McDonald’s. We made our initial outreach to them at the beginning of the summer and are thrilled to know it’s been completed. They, along with another restaurant, will leave 2,092 sf available in this three tenant strip and we are working to fill this last space. They spaces should be delivered Summer of 2019. •Regional Physical Therapy Group –We reached out to this group as they have locations in Illinois but we felt could be a good fit next to Anytime Fitness. They responded that they have no plans to expand into Minnesota at this time. •National Pizza Restaurant –We spoke to their Director of Real Estate and he stated that they do not have any active franchisees in the area at this time, but would let us know if that changes. •Two National Pizza Restaurants and a Regional Pizza Restaurant –We have reached out to multiple pizza restaurants and sent them information on the new center that will be going up next to McDonalds. They are reviewing our information and we will continue to follow up with them. •National Wing Restaurant and a National Salad Concept –Our team has reached out to these two restaurants as well for the same space mentioned above. We are awaiting response at this time and will stay in touch with both. •Regional Home, Farm and Outdoor Store –We contacted the Real Estate Director to learn about their current expansion plans. They let us know at this time that Rosemount isn’t on their radar. They normally do stores further away from larger metropolitan areas. •National Women’s Clothing Retailer –We reached out to our contact with them and she let us know that they have no plans at this time to expand in the entire state of Minnesota. We will continue to stay in touch with them should these plans change. ROSEMOUNT, MINNESOTA BETH MILLER PORTFOLIO DIRECTOR 205.314.0385 beth@retailstrategies.com December 2018 We make retail happen. RETAIL RECRUITMENT UPDATES •Elise Mademann –We spoke to Elise Mademann about the space next to Anytime Fitness that she owns. She told us their were no restrictions on the space that she is aware of. She let us know that the information from Tim Little with KW Commercial was all correct and we can continue using that in our outreach as she has no other marketing materials. She mentioned wanting a limited service healthy restaurant or a kids daycare center. •National Cell Phone Store –Our team spoke to the Real Estate Director and she let us know that they used to have a store in Rosemount that closed, but she would consider locating here again as the last store wasn’t in the right location. She likes the looks of the space next to McDonalds. She told us she was traveling a lot but would review the site upon her return. •National Autoparts Store –We have spoken to our contact about the market and there is potential interest in lots at Rosewood Center. They have requested a scaled survey of lots 1 and 2 in Block 1 because they are curious about setbacks and encroachments. We are working to get them the requested information. •Two National Eye Care Stores –Eye care is another category that could be a great fit next to Anytime Fitness. We have contacted both of these groups and are awaiting a response. We will stay in contact with them. ROSEMOUNT, MINNESOTA BETH MILLER PORTFOLIO DIRECTOR 205.314.0385 beth@retailstrategies.com December 2018