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Related Industry News
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Minnesota Construction Industry Adds 3,200 Jobs

By Brian Johnson, Finance & Commerce
Published: March 24, 2016
Minnesota construction employers had another busy month of hiring in February, as they created 3,200 jobs on top of the 1,900 added during the previous month, according to figures released Thursday by the Minnesota Department of Employment and Economic Development. Read More

Highland Park Community Center

By Frank Jossi, Finance & Commerce
Published: July 29, 2015
The Highland Park Community Center is a beacon of activity overlooking Highland Village in St. Paul. The modern window-filled structure – with a perforated metal sign depicting Highland Park’s place on the Mississippi River – is hard to miss on a drive up Ford Parkway. Read More

Minnesota’s nonprofit health care: Can you heal me now?

By Steve Calvin and Theodore J. Patton, Star Tribune
Published: January 2, 2015
In 2013, the Mayo Clinic had a margin of revenue over expenses of $612 million. While Mayo is a global brand, HealthPartners, Allina and Fairview also had margins totaling $848 million. Is nonprofit health care benefiting the community? Read More

Ryan’s $400 million plan for Strib land

By Burl Gilyard, Finance and Commerce
Published: May 14, 2013
Minneapolis Mayor R.T. Rybak stood on a surface parking lot owned by the Star Tribune in downtown Minneapolis and recalled working as a reporter for the paper in the 1980s, wondering when development might come to the area… Read More

By Fred Siegel, New York Times
Published: August 10, 2012
Ever since the surge in crime that began in the 1960s, cosmopolitan Americans have been on a quest for urbanity, looking for a metropolitan culture that had been lost to social breakdown… Read More

Raising the bar on the Central Corridor

By Drew Kerr, Finance and Commerce
Published:  May 1, 2013
A Minneapolis-based nonprofit looking to “set a new bar for high-performance buildings” hopes a St. Paul property north of the Central Corridor Light Rail Transit Line will allow it to showcase an unusual mix of renewable energy, urban agriculture and housing… Read More

Consistent service is expected, clients remember small extras

By Stevie Ray, Minneapolis|St. Paul Business Journal
Published: February 1, 2013
If you take care of the small things, the big things will take care of themselves.  Our parents drove that pint home so often as we were growing up, most of us think they invented the phrase.  It is actually a quote by poet Emily Dickinson.  I wish I could tattoo that phrase on every CEO’s forehead so they could see it in the morning… Read More

Mayo Clinic seeks $500M fund from state of Minnesota
by Chris Newmarker, Finance & Commerce
Published: January 30th, 2013
Not handout, CEO says; touts 20-year plan.
The Mayo Clinic is asking the state of Minnesota to set up a $500 million fund to pay for public infrastructure around the health provider’s Rochester headquarters — in return for Mayo continuing to spend about $175 million a year on the campus over the next 20 years… Read More

Minneapolis St. Paul Business Journal Announces 40 Under 40!

See who made this year’s cut!
Published March 16, 2012

Woodbury Health Core

By: Debbie Musser, Woodbury Magazine 
Published: January 2012
The Woodbury HealthCore initiative seeks to develop Woodbury as a medical destination, attracting new health care businesses while strengthening existing ones.The recession which began in 2008 has brought economic challenges to cities across the U.S. Woodbury is no exception. Maintaining and growing a solid economic base is one of the missions of both the city and the chamber of commerce as Woodbury weathers this economic storm… Read More

Welsh Cos. Giving up Southgate to lender

By Sam Black, Staff Writer
Published November 11,2011
Welsh Cos. is preparing to give the Southgate office tower in Bloomington to the lender, New York-based American International General Inc… Read More

Lessons Learned in Commercial Real Estate

By Tim James, Tulsa World
Published: March 17, 2011

The business of financing and developing commercial real estate has changed dramatically since 2007 due to significant economic events.

Over leveraging both residential and commercial real estate, combined with crafty packaging of those loans into securities sold to banks and governments around the world, resulted in the sub-prime, or toxic asset, meltdown and contributed to the recession… Read More

Builders Mark Time on Outlet Centers
Wall Street Journal
By: Kris Hudson
December 3, 2010

Mall developers, desperate for growth, are rushing downscale to build outlet centers that hawk brand-name clothes at discount prices.

“Clearly, when it comes to retail real-estate development, the only thing that seems to be getting done for the next few years is outlets,” said Gary Skoien, chief executive of closely held outlet developer Horizon Group Properties… Read More

 

Cautious Optimism Making a Comeback
Globest.com
By: Bob Howard
July 19, 2010

LOS ANGELES-Cautious optimism, that hard-working phrase that is always much in evidence at the start of a recovery, is making a comeback. The gloomy mood that permeated the commercial real estate industry has given way to some more positive outlooks, albeit with realistic reservations, according to a quarterly survey by Lee & Associates’ Investment Services Group and the Allen Matkins/UCLA Anderson Forecast.

Lee’s survey asked thousands of its clients nationwide eight key questions facing private real estate investors and found that, among other things, “Most think we are starting to see commercial real estate strengthen.” The Allen Matkins/UCLA Anderson Forecast, covering seven major markets throughout California, found “a distant glow of light at the end of the tunnel.”… Read More

 

Tishman Saves D.C. Properties
The Wall Street Journal
By: Lingling Wei
June 11, 2010

A partnership led by Tishman Speyer Properties has succeeded at keeping ownership of a portfolio of Washington, D.C., office buildings by injecting $700 million of fresh capital into the deal.

The Tishman group has been in default since last summer on about $600 million of junior debt tied to the CarrAmerica portfolio, a group of 28 buildings named after the real-estate investment trust that used to own it. Brookfield Properties Corp., which acquired about half at that debt at a discount, had launched foreclosure proceedings in April.

The new capital will pay off that debt, restoring the portfolio… Read More

 

GE Capital to Cut Commercial Real Estate
The Wall Street Journal
By: Bob Sechler and Paul Glader
June 7, 2010

The head of General Electric Co.’s finance arm said the company aims to cut its holdings of commercial real estate by half, detailing plans to reduce the scale of a business that has proved a huge headache in the wake of the credit crisis.

GE Capital holds an $80 billion portfolio of assets like office and apartment buildings, as well as loans secured by commercial property. Mike Neal, chief executive of GE Capital and a GE vice chairman, on Friday said the firm aims to cut that portfolio to $40 billion and to shift its composition more toward loans and… Read More


Survey Shows Signs of Optimism for Commercial Real Estate
Minneapolis/St. Paul Business Journal
By: John Vomhof Jr.
June 3, 2010

Local commercial real estate professionals are optimistic that the Twin Cities market will show signs of recovery over the next two years, according to the University of St. Thomas’ first-ever Minnesota Commercial Real Estate Survey… Read More