Future state of commercial development?

[IluvMpls]

I remember being a kid in the 80's and early 90's watching the Pipar Jaffry, Norwest, At&t, First Bank (or whatever they call it now)being built...I remember being fascinated by the growth...watching buildings go up...and I still love it. I can't wait until the next commecial tower boom...lets face it...the condo projects are somewhat uninspiring. Minneapolis needs more commerce along with residential to be a truly vibrant city.

What do you all think? Will Target go to the burbs? And lets pray we don't lose Ameriprise...What will be the future state of Mpls commercial properties?

[sushisimo]

I believe everything is cyclical, so I'm betting we'll see start seeing a few office buildings go up sometime after 2010. Just a prediction wide enough to stick my foot into when I'm wrong. Of course, there could be a part of the cycle where nothing is developing, but I think Minneapolis is substantial enough where there will always be something going up. The office vacancy percentage is quickly going down in dowtown. Our office moved into the IDS four years ago, and back then the vacancy was such that we had a lot of leverage to negotiate an awesome lease. Now, the building is nearly full again.

[IluvMpls]

I believe everything is cyclical, so I'm betting we'll see start seeing a few office buildings go up sometime after 2010. Just a prediction wide enough to stick my foot into when I'm wrong. Of course, there could be a part of the cycle where nothing is developing, but I think Minneapolis is substantial enough where there will always be something going up. The office vacancy percentage is quickly going down in dowtown. Our office moved into the IDS four years ago, and back then the vacancy was such that we had a lot of leverage to negotiate an awesome lease. Now, the building is nearly full again.

Good to hear!

In the meantime lets fill in some parking lots with condo's.