5. EDSR 09-11-2006 - Laserfiche WebLink

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^ Hiring brokers to market city owned industrial properties would not only result in the quicker sale of those properties, the brokers said, it would allow cities to find out about more economic development opportunities because it would give them an insider in the broker community. ^ Bxokexs have little incentive to bring prospective users to city owned industrial properties because they axe concerned about how they will be compensated for their efforts ^ Brokers find it much easier to work with private landowners, developers and other brokers than with cities, the focus group participants said. ^ In addition to hiring bxokexs, the focus group participants recommended that cities should market through direct mail and emaIl. ^ One broker also mentioned that she would like cities to provide more current, comprehensive demographic data. Often the ava$able data isn't current, especially in fast-growing communities. The data should be available online. ^ Since closer-in communities axe running out of available industrial land, the brokers said it's a natural progression that users and brokers are more willing to consider sites in more distant communities, which is why we're seeing more activity places like Otsego, Big Lake and Elk River. It's almost inevitable, they said. ^ Those areas axe also becoming more viable industrial areas because the blue collar work force is also moving further out from the metro core in search of more affordable housing. ^ Elk River Economic Development Division Staff were unanunously praised fox being interested, aggressive and responsive. With a dedicated Economic Development Division, it's also obvious who brokers can contact for information. In some communities, the bxokexs said, it can be frustrating to find a single point of contact. Elk River is also perceived as being pro business. ^ Monticello is perceived as being more aggressive with financial incentives, and Big Lake is perceived as being somewhat less stringent about such things as outdoor storage. (The Big Lake Marketplace project will allow outdoor storage, one of the bxokexs said.) ^ There is considerable demand fox outdoor storage space, but very few communities allow it, another broker said. A community that found a place fox outdoor storage could do well, he said. ^ Rising gas prices probably won't deter companies from relocating to the Northwest Metro unless they have a large fleet of distribution ox service vehicles that would need to navel greater distances. ^ The industrial leasing market is weak in the Northwest Metro, the bxokexs agreed, probably because there is still plenty of industrial space available along I-694. Most industrial users in the Northwest Metro -even small users -would still prefer to build ox buy rather than lease, they said. ^ There seems to be more demand from large industrial users (100,000 square feet-plus) than smaller industrial users right now, the brokers agreed. B2