Archive for the ‘Executive Insight Series’ Category
Wednesday, November 23rd, 2011
Mark Moorhouse of Dominium, the Midwest’s premier owner and developer of affordable, luxury, and senior multifamily real estate will speak at the University of St. Thomas on Tuesday, December 6 at 5:45 p.m. This is the last event for 2011 in the Real Estate Executive Insight Series. This event is free and open to the public but please register here.
As senior vice president and project partner for Dominium, Mark Moorhouse is responsible for development and acquisition activity. Since joining the firm in 1996, Moorhouse has played an integral role in the financing of over $140 Million of apartments and has helped raise in excess of $40 Million in equity.
Tags: affordable apartments, affordable housing developer, commercial real estate events twin cities, Dominium, Mark Moorhouse, Master's in Real Estate, Multifamily, Multifamily development, real estate events mn, real estate speaker, Senior Housing, UST Executive Insight Series
Posted in Executive Insight Series, Multifamily, Property Management, Senior Housing, Uncategorized, Upcoming UST Events | No Comments »
Friday, November 18th, 2011
Please join us for the final Executive Insight Series event for 2011 on Tuesday, December 6th, with Mark Moorhouse of Dominium.
Mark Reiling, Senior Vice President and Principal of Cassidy Turley, spoke at UST shortly after the NAIOP 2011 Office Market Report event last Tuesday. Here are some highlights from the NAIOP Meeting:
- The Twin Cities office market is stable
.
- Assets performing well include class A properties in the Western suburbs and Downtown Minneapolis.
- Slight rent growth can be anticipated in Downtown Minneapolis. No rent growth is forecasted for office space anywhere else in the Twin Cities.
- Class B buildings will need to be repositioned to remain competitive.
In Reiling’s talk, he highlighted several examples of distressed commercial properties that have been purchased by investors and repositioned successfully. Examples include:
Eagan Promenade: This former Ethan Allen store was purchased by developer Stonehenge who reduced the size of the building and repositioned it to capture $30 PSF net rents. Stonehenge sold the building for $336 PSF, netting profits estimated at $1 million.
Eagan Promenade was successfully redeveloped and sold by Stonehenge in 2010.
(more…)
Tags: Cassidy Turley, distressed commercial real estate, distressed properties, Mark Reiling, naiop mn, twin cities office market
Posted in Commercial Real Estate, Executive Insight Series, Industry News, Real Estate Trends, Retail Real Estate, Uncategorized | No Comments »
Thursday, November 10th, 2011
The Dinkydome was renovated by Doran Companies and converted into loft-style apartments.
Kelly Doran knows retail. He knows it so well, in fact, that he recognized when retail would begin to decline, and he had the vision to exit retail development and shift his focus to multifamily before it was a hot commodity. The question that resounded with Doran, was how to apply decades of retail experience to a new product, multifamily? “What are shoppers looking for?” asks Doran. “Convenience, security, and a pleasant atmosphere.” These factors can make or break even the best retail centers. Coincidentally, these happen to be the same attributes that urban renters are looking for in their new homes.
Applying this philosophy to his student housing projects near the University of Minnesota in Dinkytown, Minneapolis, Doran has brought online hundreds of new high-end market rate units in the last several years. When Doran first recognized the need for student housing, he pursued the Dinkydome site. Not listed on any historic registry, Doran figured the project would be a relatively straight-forward venture. However, like many development projects in recent years, there were entitlement challenges, lawsuits, and at one point, financing was completely unavailable.
In late 2008, soon after purchasing all 3 parcels for the project which included both the Dinkydome site and the future site of Sydney Hall Apartments, Doran’s 9 million dollar loan disappeared, and he had already invested 3 million. “We sat around and drank for a couple of months,” jokes Doran, “Then we had to find a solution.” The size of the Sydney Hall building was scaled back from a high rise to a 6-story midrise building to cut costs. The Dinkydome, which before the recession had potential interest from the University as office space, was converted into 2-story loft-style homes.
(more…)
Tags: 412 lofts, Dinkydome, Dinkytown, luxury student housing, student apartments, Student Housing, student housing developer, Sydney Hall, U of M, U of M student housing, University of Minnesota housing
Posted in Development, Executive Insight Series, Multifamily, Student Housing, Uncategorized | No Comments »
Sunday, November 6th, 2011
With over 186 million square feet of multi-tenant office and industrial space, a diverse economic base, and the highest number of Fortune
Mark Reiling, Senior Vice President and Principal, Cassidy Turley
500 companies per capita, the Twin Cities offers significant opportunities in the commercial real estate market. Explore the challenges and opportunities in the commercial real estate investment market with Mark Reiling, Senior Vice President and Principal of Cassidy Turley.
During his 30 year career, Reiling has been involved in nearly every aspect of commercial real estate including brokerage, consultation, expert witness testimony, selling and leasing commercial properties, asset management, investor reporting, construction and permanent financing, market research, development, historic renovation and syndication. He has been an advisor to private and institutional investment property owners for their asset management plans and disposition strategies.
Reiling served as president of Colliers Towle Real Estate, one of Cassidy Turley’s predecessor companies, from 1987 to 2002. Operations included brokerage, property and facility management, appraisal, research and consulting services, and mortgage banking prior to 1994. Reiling started The Towle Report in 1984, the first comprehensive real estate report on the Minneapolis-St. Paul market. He continues to provide content to the report, now the Cassidy Turley Minneapolis Research Report. While serving as president of Towle Properties Inc. from 1983 to 1987, Reiling started the real estate investment company which has acquired, removed, and/or developed over $200 million of land, office, industrial, parking, housing and retail properties.
The Real Estate Executive Insights Series is presented by the Opus College of Business MSRE program. This series invites speakers from the real estate industry to provide valuable information and discussion about hot topics and current trends. This is a free program and is open to the public. Please register here to attend this event.
Tags: Cassidy Turley, commercial real estate events mn, Commercial Real Estate Market, Mark Reiling, st thomas executive insight series
Posted in Executive Insight Series, Uncategorized | No Comments »
Tuesday, October 25th, 2011
David Marquis, Director of Corporate Real Estate for Target Corporation, recently spoke at UST's Real Estate Executive Insight Series
“Life’s a moving target” for David Marquis, Director of Corporate Real Estate for Target Corporation. After graduating from the University of Minnesota with a degree in architecture, Marquis joined Target as a CAD store planner, and eventually moved into Target’s real estate group. His current responsibility is managing the non-retail portfolio including office and distribution space.
Target’s Canada expansion strategy, which commenced when Target acquired the leasehold interests for Zellers retail locations throughout Canada, includes launching approximately 130 new stores in 2013. The existing Zellers stores will be renovated; Target negotiated with the landlord in each case to allow the store to go dark during the renovation. Target will be hiring 35,000 new team members for its Canadian expansion. Both logistics and brand translation are important issues, namely, how to re-create the Target shopping experience with Canadian employees who have never shopped at a Target store.
As for US stores, Target is focused on two major initiatives: City Target and renovating existing stores. While a traditional store is 130,000 square feet, new City Target stores springing up in popular urban locations throughout the US will be sized at 60,000-100,000 square feet . This year Target broke ground on a historic rehab project in Chicago and will complete City Target stores in Seattle, Los Angeles, and San Francisco next year. The investment in existing Target locations will add fresh grocery departments to stores, improving Target’s convenience factor as a “one-stop shop.”
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Tags: City Target, David Marquis, retail real estate careers, Target, Target Canada, Target Corp, Target expansion, Target philanthropy, Target real estate, Target renovation, Zellers
Posted in Commercial Real Estate, Development, Executive Insight Series, Industry News, International Real Estate, Retail Real Estate, Uncategorized | 2 Comments »
Friday, October 21st, 2011
As a reminder, the 2011 Minnesota Real Estate Hall of Fame Induction Ceremony is being held at the University of St. Thomas Minneapolis campus on Wednesday, October 26, beginning at 5:30 p.m.
Kelly Doran, Principal, Doran Companies
Adapting to the current market conditions is something that Kelly Doran, Principle of Doran Companies has been successful in doing. Transitioning from the development, construction, and management of retail mixed-use properties to student and urban residential housing, Kelly Doran will share his experience.
Kelly Doran is the founder and principal of the Doran Companies, a diversified commercial real estate company that provides development, finance, construction, and property management services. Doran has been involved in the real estate development business for nearly twenty-five years, after an earlier career in commercial banking. In the past twenty years Doran has developed, constructed, leased and managed many projects that comprise millions of square feet of commercial real estate, including projects such as Woodbury Commons and Tamarack Village, in Woodbury, the Village of Blaine, in Blaine, Silver Lake Village, in St. Anthony and many others. Currently, Doran owns in whole or part several million square feet of commercial space. Most recently, Kelly developed the Sydney Hall Apartments and renovated the historic Dinkydome building adjacent to the University of Minnesota. His second student housing development, near Dinkytown at the University of Minnesota, will open this fall.
UST’s Executive Insight Series events are free, but please register here.
Tags: commercial real estate event mn, commercial real estate event twin cities, Dinkydome, doran companies, kelly doran, real estate development seminar, real estate speaker minneapolis, silver lake village, Student Housing, sydney hall apartments, tamarack village, village of blaine, woodbury commons
Posted in Commercial Real Estate, Development, Executive Insight Series, Multifamily, Residential Real Estate, Retail Real Estate, Student Housing, Uncategorized | No Comments »
Sunday, October 9th, 2011
Corporations view real estate from a unique perspective. Learn how Target has handled their retail and corporate real estate from David Marquis, Director of Corporate Real Estate for Target Corporation.
David Marquis leads a real estate team responsible for delivering retail and non-retail facilities to support Target’s growth. Marquis joined Target’s real estate department as a development manager in 1992. He was promoted to real estate manager in 1995 and regional real estate manager in 1998. He has held his current position since 1999. Marquis serves on the Board of Directors for BOMA. He also serves on the Transportation and Transit subcommittee for the Minneapolis Downtown 2025 Plan and is a member of International Council of Shopping Centers and CoreNet. Marquis graduated with a Bachelor of Architecture degree from the University of Minnesota.
UST’s Executive Insight Series events are free and the public is welcome but please register here. Also, don’t forget to register for the 2011 Real Estate Hall of Fame Induction Ceremony. The registration deadline is October 14th.
Tags: careers in corporate real estate, commercial real estate education, commercial real estate events twin cities, corporate real estate, David Marquis, Executive Insight Series, MSRE, Target, Target Corporation, Target real estate, University of St. Thomas
Posted in Executive Insight Series | 2 Comments »
Tuesday, September 27th, 2011
From converting office buildings into multi-family real estate to the management of retail properties in today’s challenging environment, Jim Stolpestad, Chairman of Exeter Realty has experiences and stories to share about what has and has not worked.
The Real Estate Executive Insight Series is presented by the Opus College of Business MSRE program. This series invites speakers from the real estate industry to provide valuable information and discussion about hot topics and current trends. This is a free program and is open to the public; you can register to attend here. Read a recap of the most recent event with Collin Barr of Ryan Companies.
Jim Stolpestad is chairman and an owner of Exeter Realty Company which he founded in 1991. He has been chi
ef manager and a founding governor of Ironton Asset Fund LLC since 2009 and chief manager of real estate portfolio ownership entity Pioneer Property Partners LLC since 2003. From 1985 to 1990, Stolpestad was a senior partner with Doherty, Rumble & Butler, a national law firm with offices in Denver, Minneapolis, Saint Paul, and Washington D.C., where he was a member of the Board of Directors and practiced primarily real estate development and finance law. From 1971 to 1985, he was a senior partner with Stolpestad, Brown & Smith law firm, Saint Paul, where he was a managing partner and practiced banking, business, real estate, and securities law. From 1969 to 1971, he was Special Assistant Attorney General with the State of Minnesota, and from 1967 to 1969, he was an attorney with the U.S. Department of Housing & Urban Development in Atlanta. Read more about Jim Stolpestad here.
Tags: commercial real estate events twin cities, Exeter Realty, Jim Stolpestad, MSRE, St. Thomas events, UST Executive Insight Series
Posted in Executive Insight Series, Uncategorized, Upcoming UST Events | No Comments »
Thursday, September 22nd, 2011
On Tuesday night Collin Barr shared words of wisdom with a receptive audience of local commercial real estate graduate students and industry leaders. Leading up to his current position with Ryan Companies, Barr shared stories of triumph and tragedy during his early career which started at IBM and lead him to Trammel Crow, CRESA Partners, and finally Caribou coffee, where he traveled frequently directing the development of new stores. “It was all worth it,” notes Barr, as he now oversees the Midwest region of Ryan Companies, a firm that has excelled despite a historic decline in local construction projects.
Ryan Companies’ business model focuses on “Integrated Project Delivery” meaning that they offer every service a commercial real estate client may require – from design-build to capital funding to real estate management, and many technical and professional services in between. While Ryan previously dominated the construction market for high-end office and industrial uses, they have now branched out into other market sectors including multifamily, senior living, data centers, and distribution centers in Canada. In fact, Ryan is currently developing three distribution centers for Target in Canada. Barr notes that the development process in Canada is strikingly similar to that of the U.S. “Had we known it was so similar,” says Barr, “we probably would have started working in Canada sooner.”
The topic on everyone’s minds – what will become of the former Jaguar site at Hennepin Avenue and Washington Avenue was addressed as Barr revealed plans for Ryan’s upcoming mixed-use project. 222 Hennepin Avenue received approval from the city planning commission on Monday and will become fully entitled within three weeks. Ryan will begin construction in December on the project which is slated to include 283 market rate units at rents of $2.00 per square foot. A grocery store will anchor the first floor of the building and units should be ready for move in by spring of 2013. Barr stated that demand for multifamily has been fierce; in fact, Ryan has received offers to purchase the project upon completion at low cap rates in the range of 5%. While some city council members wanted to see a high rise on the site, Barr explained that construction costs for a tower would require rents of $2.50 per square foot, which he does not believe the market can support. (more…)
Tags: 222 hennepin ave, 222 hennepin ave development, Collin Barr, former jaguar site, hennepin & washington development, jaguar site, Ryan Companies, ryan cos development
Posted in Commercial Real Estate, Development, Executive Insight Series, Industry News, Multifamily, Retail Real Estate, Uncategorized | No Comments »
Sunday, September 18th, 2011
Collin Barr, President of Ryan Companies Midwest Region
Real Estate Executive Insight Series:
Trends and Opportunities in Commercial Real Estate
Collin Barr, President of the Midwest Region for Ryan Companies, will speak about recent projects and current industry trends at the University of St. Thomas Schulze Hall Auditorium in Minneapolis this Tuesday beginning at 5:45 p.m. The program is free and you can register here. Ryan Companies, a national leader in design-build services, development, capital markets, and real estate management was founded in Minnesota over 70 years ago. Ryan Companies has adapted to the current commercial real estate market working in office, industrial, retail, medical office, hotel, apartment/condo, data center, renewable energy and higher education projects. Mr. Barr leads the development of the world headquarters for both US Bancorp and Target Corporation in downtown Minneapolis and has spearheaded several office build to suit, mixed-use and hotel projects. His recent hotel projects include the Sheraton Midtown Minneapolis, W Foshay Minneapolis, Westin Minneapolis and Westin Edina Galleria.
For more information on upcoming Executive Insight Series events, visit our events page. Also, register now for the 2011 Real Estate Hall of Fame Induction Ceremony on October 26th.
Tags: Collin Barr, commercial real estate events mn, Ryan Companies, UST Executive Insight Series
Posted in Commercial Real Estate, Development, Executive Insight Series, Uncategorized, Upcoming Industry Events, Upcoming UST Events | No Comments »
