February 27, 2017

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Media Trending & HeadlinesMinneapolis/St Paul

IndustrialTrump’s manufacturing summit comes as job expand — and the Twin Cities are among the leadersManufacturing was in the news Thursday as CEOs running some of the nation’s largest corporations arrived at the White House to talk trade and job creation with President Donald Trump.

OfficeDevelopers circling Sons of Norway property in UptownSons of Norway, a nonprofit, is putting its longtime headquarters building and surrounding property at 1455 W. Lake St. up for sale after getting developer inquiries for years. The company will sell and move its headquarters if it gets the right offer, said Sons of Norway CEO Eivind Heiberg.

Retail / Multifamily / HospitalityIronclad, Moxy project gets final sign-offsThe Minneapolis Planning Commission gave Graves’ “Ironclad” project its final set of approvals Tuesday. It unanimously supported a height variance to permit a 14-story apartment building, and it approved the site plan. The buildings will rise at the southeast corner of Chicago and Washington avenues in Downtown East.

J.C. Penney to close up to 140 stores, Minnesota impact unknownDepartment store chain J.C. Penney will close up to 140 stores around the country, but it won’t be clear if any Minnesota locations will shutter until next month.

Higher-Paying STEM Jobs Could Help Apartment PerformanceDemand for apartments is generally a product of job growth; but are all jobs equally good for the apartment market? Economic growth in the 21st century is increasingly driven by scientific and technological innovations. Those at the forefront of the technological frontier are individuals employed in science, technology, engineering and mathematics (STEM) occupations.

Local Economic and Development News CRE survey: Rising costs, financing worry execsWhile Minnesota’s commercial real estate leaders remain confident about commanding strong rents and occupancy levels for new projects, they are worried about rising material costs and financing, according to the latest Minnesota Commercial Real Estate Survey.

A clean energy future for Highland Park Ford siteSeveral innovative ideas have emerged for creating a community that produces as much energy as it consumes at the 122-acre Ford site in St. Paul’s Highland Park neighborhood

NationalOnline Commerce Sparks Industrial Real-Estate Boom Off the Beaten Path in N.J.Growing demand from e-commerce and other businesses for storage and distribution space is boosting rents and occupancy rates. This, in turn, is fueling incentives for developers to revive older manufacturing sites and build ground-up projects in places that haven’t seen new construction in a while.

Is the Office Sector Reaching a Plateau?The office sector is experiencing contrasting levels of demand among different employment sectors and markets. On the positive side, the technology sector remains the leading driver of demand, and has made major leasing contributions in multiple “tech hub” markets.