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HomeMy WebLinkAbout4.c. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: March 19, 2019 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.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 (attached) 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 Broker continues to market the site and will be pursuing restaurant users as well as other potential options. It was determined that financial institutions are not allowed at the site, so that will affect potential users. Multi-tenant Retail: Staff received a building permit application for the multi-tenant space. Building staff will be providing feedback on the “just received” plans to move the building permit approval process along. Warren’s property: Staff has heard nothing new from the gas station user. The financial institution that is looking in town has been directed to one of these sites. Merchants Bank site: Staff spoke to the potential user who is still waiting on a response from the Bank. We have indicated several other sites that could work but the user is not interested in those locations right now. Akron Ave: There is no new information on the commercial sites. MGM retail space: The realtor indicates she is working with a potential client(s). There is one in particular that seemed interested but has stalled out. 2 Downtown: Staff has scheduled a meeting next week with the interested party for the Downtown site. It is staff’s hope to have information for discussion with the Council in early April. At the Economic Development Association of MN conference there were representatives from Kraus Anderson and Ryan who work on healthcare and retail development. Staff sent information about the community and sites within Rosemount for potential development. As an update, the two representatives from Kraus Anderson and Ryan indicated they do not have a user interested in our area at this time. They will keep the information for future use. Canada Circle: The closing for the City / Port owned property is scheduled for March 22, 2019. INDUSTRIAL UMore Industrial site. Staff has signed the non-disclosure agreement (NDA) and met with Xcel Energy regarding projections for utility needs. Rosemount Business Park: Nothing new to report. RECOMMENDATION Information Item We make retail happen. RETAIL RECRUITMENT AND RETAIL LIVE CHICAGO UPDATES •Celtic Crossing/Lisa Diehl –We met with Lisa at the Retail Live Chicago show. We discussed the Rosemount market as a whole as well as specifically about Celtic Crossing. She has since sent me a new marketing brochure about their 8,600 sf and 1,300 sf available. We discussed finding a hardware store for the larger space.She is very appreciative of our help and a pleasure to work with. •National Auto Parts Store –We continue to work with this group for Rosewood Center. They are reviewing internally at this time and we are hopefully we will hear back soon. •National Hair Salon –We spoke to the Real Estate Director about some of the information we had sent in the past. They did say that the information is being reviewed and this could be a market of interest for them. We let them know that although we had sent them Celtic Crossing in the past we’d be happy to help them find other options if needed. •National Coffee User –We reached out to them after our initial outreach to see what their thoughts were. They are starting to focus more on expansion in Minnesota and will continue to keep us updated and they asked that we send more options for sites. •National Shoe Store –We spoke to them at Retail Live and they let me know that their Apple Valley location is too close at this time to think about another location in Rosemount. •National Hamburger QSR –Our team met with the Real Estate Manager and he let us know that they are still reviewing sites in Minnesota.He appreciated us sending information on Rosemount and believes this market could be a great fit. However, he mentioned not wanting to go past the railroad tracks so he needs as spot to the west of that intersection. •National Shoe Store–They let us know at Retail Live that their expansion plans for Minnesota are slow and steady at the time. They said they would review anything we sent over but would most likely need more of a soft goods mix than we can offer. ROSEMOUNT, MINNESOTA BETH MILLER PORTFOLIO DIRECTOR 205.314.0385 beth@retailstrategies.com February 2019