HomeMy WebLinkAbout5.a. 2021 Building Vacancy and Land Discussion
EXECUTIVE SUMMARY
Port Authority Meeting: February 16, 2021
AGENDA ITEM: 2021 Building Vacancy and Land
Discussion
AGENDA SECTION:
New Business
PREPARED BY: Eric Van Oss, Economic Development
Coordinator AGENDA NO. 5.a.
ATTACHMENTS: Vacancy Map, Business Park Map,
Developer List APPROVED BY: LJM
RECOMMENDED ACTION: Discussion Item
BACKGROUND
In light of discussions about retail attraction, staff conducted a vacancy analysis in January of all available
sites. As we look past COVID towards future commercial demand, it is important to take note of the
strengths and weaknesses of Rosemount’s commercial inventory. There is currently 11,854 square feet of
traditional retail space. The size of these six different spaces range from 1,200 to 4,000 square feet. For size
comparison, Rudy’s/Clover is about 6,600 square feet. Rosemount currently has a tight vacancy rate and not
all the existing spaces are necessarily conducive to attracting the kind of commercial tenants desired by the
Port and community.
While there is increasing interest from businesses in Rosemount, there is a mismatch between available
space and desirable space. For example, restaurants would prefer endcaps and locations that permit outdoor
patio space. None of the current vacancies permit either. Staff believes new infill and greenfield
development is needed to attract wanted end users. As most commercial tenants will not outright own their
commercial footprint, staff believes the best retail economic development strategy would be to work with
Twin Cities developers to construct multi-tenant spaces on infill or greenfield sites along Country Road 42.
Staff will also reach out to businesses, entrepreneurs and end users interested in a Rosemount location in
order to connect them with potential developers.
The following are the commercial/service sites available in Rosemount as of 2/11/2021
2930 W 146th St W, Rosemount, MN 55068 Retail 2,265 s.f
15051 - 15083 W Crestone Ave, Rosemount, MN 55068 Retail 1,384 s.f
3400 - 3440 150th St W, Rosemount, MN 55068* Retail 1,280 s.f
2678 149th St W, Rosemount, MN 55068 Retail 4,001 s.f
14855 - 14995 S Robert Trl, Rosemount, MN 55068 Retail 2,915 s.f
15265 Carrousel Way Suite 100, Rosemount, MN 55068 Office 3,100 s.f
There is an additional 3,100 square feet of office space at the new medical building on Carrousel Way and
approximately 120,000 square feet of office/industrial space in the Rosemount Business Park.
RECOMMENDATION
None, information only.
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BRAZIL AVEI:\GIS\M ap_Library\Com mDev\Development\AvailableLand\VacantSitesBusinessPark.pdf
2/10/2021
Vacant Space
0 1,500 3,000750 Feet
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158TH CIR WCHARLESTON AVELOWER 150TH ST W
B O U L D E R AVE BUSINESSPKWY148TH ST W
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CARROUSELWAYCANADACIR CANADAAVE149 T H S T W
B O U L D E R T R L
BISCAYNE AVE70.26Ac.
32.59Ac.
6.4Ac.
12.9Ac.21.33Ac.
66.02Ac.4.23Ac.
1.81Ac.1.47Ac.1.41Ac.
1.87Ac.
1.95Ac.
1.5Ac.1.45Ac.1.95Ac.
3.75Ac.
35.34Ac.
5.52Ac.1.1Ac.3.1Ac.
I:\GIS\M ap_Library\Com mDev\Development\AvailableLand\VacantSitesBusinessPark.pdf
2/10/2021Vacant Space
0 500 1,000250 Feet
Kraus Anderson
Davis
Scannell
Meritex
Opus
Ryan Companies
Duke Realty
Oppidan
Hyde Development
CSM
Interstate Development
United
Appro Development
Frauenshuh Inc
Trammell Crow Co.
Hillcrest Development
Java Capital Partners
Copper Creek
IRET
McGough
Hoyt Properties Inc.
Crawford Merz
ARTIS
Lee & Associates
Transwestern
CRBE
JR Hospitality
TPI Hospitality
MaaDaaDizi
JLL
Common Bond
Dominium
Senior Housing Partners
Solhem Cos.
Lupe Development
Excelsior Group
Water Senior Living and Shelter
Corp
Schafer Richardson
Frauenshuh Inc
Trammell Crow Co.
Endeavor
Roers