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November 25, 2002 final
<br /> NORTH BY NORTHWEST MARKET UPDATE
<br /> SPECIAL INSERT
<br /> •
<br /> Streams that flow both ways i
<br /> E)cpanding
<br /> ._ _ ..„
<br /> I n the same way traffic flows back `
<br /> and forth on the highways `�'� ' '' In The I'iorl
<br /> between the Twin Cities metro area ,M a 3 '2
<br /> and St.Cloud,so do the advantages r,
<br /> of business development in the cor- . ?: •s_ Sub IVklirk'r
<br /> ridor created by these roadways. "", ; 'I \, . ,-. �^,
<br /> Certainly there are the obvious °'` f-, z
<br /> tui `^ a4+ c_
<br /> advantages going into the area w ;� by Joe Gearen
<br /> such as attractive land prices, w , , �''
<br /> access to transportation and a
<br /> ��, w S ith today's current econom
<br /> robust pool of employees. Howev �- " ,_ " -T �
<br /> pac"--',,`"C:"'" i x - i; condition and the uncertain
<br /> er, when the time comes to move „¢ , �
<br /> ,•., xt,- e5 of worldwide events, the real esta
<br /> on to a larger facility,businesses in N,� -,, ,
<br /> � }' market as a whole continues to 1
<br /> the corridor have the advantage of =a=•+;�,+P:#:=+'f;a 1e=�� * +t+ i �'' ,i ;;
<br /> r _ sta pant_ Landlords and Sub-Lan,
<br /> two markets in which to promote ';• '+ {+' f'}s i f+'++T " °
<br /> the re use of their old facility. '� _� lords are aggressively chasing cor
<br /> .6^,.... ;r_i} panics that are actively looking. . f
<br /> 200 acres for business growth "` space. Tenants are negotiating f
<br /> For instance,Elk River industri =� % . V higher improvement allowances, fr
<br /> al land prices are not only compel ` ` � rent, moving allowances and a nur
<br /> itive with area communities,but the * "'" ' , bed e ro
<br /> t-other creative incentives
<br /> city offers TIF,abatement and sub r f, order to move to these vacancies.
<br /> prime loans to make the city a cost-
<br /> p..— - According to the 2002 Nation_
<br /> car v r•„ ?l' ' Association of Industrial and Offi(
<br /> effective option, both now and in ;
<br /> p its a Properties (NAIOP) market updat
<br /> the future. ` '14 1' the overall industrial vacancy rate
<br /> 10 The East Business Park,located mer
<br /> on Highway 169,contains approx--
<br /> 14'+I+' + the Northwest is approximate
<br /> mately 70 developable acres. The .5%. This sub vacamarkncy
<br /> is rateexpinen
<br /> West Business Park, located on ye' its highest vacancy in xr
<br /> Highway 10, boasts nearly 100 years. Speculative development h
<br /> acres for industrial and office development. For more information about the City of come to astandstill with new projec
<br /> Cascade Industrial Park adds an additional Elk River, and a Location Site Guide, con- being initiated only with pre-leasin
<br /> 46 acres to the total available land. tact Heidi Hall at 763.241.5526 or visit the There is approximately 4.5 mi lc
<br /> attract businesses from both ends These city Web site at www ci.elk rivermn.us , square feet of vacant space accordir
<br /> parkswhich includes an interactive map with to the NAIOP report, with an add
<br /> the corridor because of their convenience detailed information about available Indus
<br /> and accessibili f tiona1945,000 square feet of sublea:
<br /> �'• trial sites. •
<br /> Design/Build . Construction NI .
<br /> General Contracting
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