Eagan has great potential for those interested in industrial warehouse space. Close to four major highways, the airport and both Minneapolis-St. Paul.
Listed below are some of the buildings located in the area
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Here are some links from the past week:
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Something Missed On This Project
Waterford Commons, the upscale apartments with light retail space on first floor in downtown Rosemount has it’s first tenants. I was driving by the other day and noticed a completed karate center along with a mortgage shop.
This isn’t what I was thinking would go here and I can’t be the only one.
I pictured this: an area to walk by on sidewalks, step into the stores/businesses and move along. Maybe grab a bite to eat at non-franchised restaurant (still hope on this one). It just seems there is going to be no foot traffic seeing what is going in the leased spaces.
Now don’t get me wrong here but I don’t think this is what most people had envisioned when the project first started about two years ago. I’m not sure if the landlord was getting restless not being able to find any tenants and just had to pull the trigger or jumped on the first breathing business owner that walked through the door.
Will have to see where this one goes and I hope it doesn’t bust because of the hassle eminent domain the city put on owners because it just had to redevelop the area.
I wish all tenants the best but this project looks wrong from the outside. Let’s hope that end-cap corner space has a solid anchor tenant.
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6 Reasons NOT To Buy A Home
Just because every REALTOR(r) is shouting to buy a home, doesn’t mean that it is the right time.
It really is ok not to buy at this time.
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Links from the past week:
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Get it animal style or flying dutchmenThese are a just a few of the variations that the famous In N Out burger restaurant lets you order your burgers. The only catch is they are not on the menu. You have to know them in advance.
If you are unfamiliar with the In N Out, they have some the best hamburgers around and are based out of California. I bring them up because they are what the food industry calls a quick service restaurant (QSR) and it doesn’t matter what time of the day you go, there is always a line out the door.
I bring them up here, because you won’t find any in Minnesota and any restaurant that can create such a cult following based on customer preferences for a secret menu, is a win all-around that should be everywhere.
Anyways, back to the point.
What is a Quick Service Restaurant
In short, it is a fast food restaurant or sometimes you might here QSR. At these joints you will find fast food and minimal table service, thus the difficult name ;
I stumbled across this article the other day that offers some different variations on why entrepreneurs are choosing the QSR model:
But the economy is not just driving consumers to the quick service concept. Laid off professionals looking for a place to invest their nest eggs are embracing franchise opportunities as a safer way to enter the restaurant industry.
“In the QSR industry, it’s extremely beneficial for somebody coming into the business because they don’t have to recreate the wheel with their business,” said Garth Snider, president of FranchiseOpportunities.com. “They’re given brand recognition by the franchiser.”
Start with a franchise or create your own brand and grow it.
There are many benefits to franchising a quick service restaurant than starting a business from scratch. First of all, the risk minimization is less being that the business model has already proven successful. When looking into the model, a wealth of information is provided to the franchisee to make sure that the business is a right fit. Training is provided by the franchiser which is important from the start.
However, creating your own QSR provides a sense of community and not some national chain moving into an area. It will be more difficult to start and everything will be from scratch but if your an entrepreneur you live for the challenge.
Marketing is easier with a franchise, the brand is already out there and all it needs is some solid market penetration. The franchiser usually provides everything given a small amount of the franchise fee goes to a cooperative marketing fund. If capital is needed or a loan, usually the franchiser has relationships in place with a lender which may make it easier to obtain the loan.
You can find a creative economic niche with that caters to the right individual.
And will some please bring an In N Out to Minnesota.
If you are interested in looking into the retail space for your quick service restaurant model in the Twin Cities, go ahead and reach out here.
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Slides provided by real estate research firm 10K Research.
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Back in action again is the Parade of Homes, Spring 2010 style. Interesting that they teamed up with the Remodlers Showcase this time around to market it. Probably not enough homes on tour given the current market to make it worthwhile to publish a book.
Anyways, I marked out my favorites already and they are all on the upper bracket price range. John Kraemer & Sons has a listing in Credit River Township for $2.4 million in Cress View Estates (114 Parade #) and J.B. Woodfitter has another one in that neighborhood listed for $1.795 (115).
On The Level has a home in Eden Prairie in a neighborhood called the Woods at Riley Creek on the tour with a price tag of $1.769 million (179). There is also a home in Wayzata in Locust Hills for $1.975 million (215) built by Keith Waters and Associates that looks to be a good one.
If your looking in Medina, Stonewood Builders has home for $2.895 million that is located in Willow Hill (225). It appears to be the most expensive home on the Spring tour, but I did realize it had a $5 tax-deductible admission, lame.
Parade Of Homes:
March 5-28 – Thursday through Sunday
Hours 12-6pm
Remodelers Showcase:
March 26-28
Hours 12-6pm
Some builders might have extended hours, check on the website or grab a book at Holiday Stationstore.
I’ll be the first to say, disappointed by the lack of architectural designed houses but nonetheless will still make an appearance.
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Rosemount has it’s fair share of vacant commercial properties along County Road 42, plenty of prime space available. Price per square foot is a little high for the current market, might be the time to make a move if you have that entrepreneurial spirit. That means not opening a nail salon, hair salon or any other franchise you see in every strip.
Be creative.
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Jason Sandquist
651.503.7132
Ladin Ventures
Commercial & Residential Real Estate Advisors