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yoaru~ of the k~4 as;rts that: cn-ere toun<1 is t:ltat
<br />downtuwn has a unique mix of anchor stures
<br />fora (:13D vritlt Neiraiact itil:arcats, Maet s, C)ff
<br />nth ~:~aks), and I<trrc,t there a, also a trop±
<br />presence ofsuCCe~slitI independent opcxators.
<br />hi.rtally there is a. strc:mg office: and visitor popcr
<br />lotion that comes t:o downtown Minneapolis.
<br />Sonu~ of the short comintis identified by the
<br />ron2rltan.twere the divtsx.>n betwertt the sky-
<br />4vay sy>tctn and the strec^t Icvcl retail, the tran-
<br />sit onlti traffic on Nicollet t~-4all, low density of
<br />residc:rats, and laelhaster sales.
<br />In light of this information, there are sev~:ral c>p-
<br />r~x~rtuztiti.es fc~r retail downti~wn. The first step
<br />the council took was to hire Ann Winmrer as
<br />the director of retail recruitment dcnvntown.
<br />Her ralti.mate ooa] is to attract loe~al, rr~ional,
<br />and national tenania to downrown. "I'he in-
<br />creased nuniher of boutique hotels «~i11 he.Ip
<br />attract more evening arad weekend do~~%rtto~~~n
<br />to tE~Eic, and the new °l~wurs Stadium in the North
<br />Loop :~~i11 also help when it opens. in 2010.
<br />~1'ltere arc still ;a few coruerns that: linger xhen
<br />people think of downto«~n retail. There is the
<br />cost of parkirrg, and the lrerceJ:>tiota of safety.
<br />I~~he varietz~ of ~rores is not: as cou~plete a, other
<br />areas, and tl~tere aren't as many unique stores
<br />that require sotarec>ru: to conre down.toct,n. To
<br />the positive, Wrote transit: lines coming int<~
<br />downtown will help make the trip easier.
<br />Tl~t.e Nc~rthstar lute is .et to open in 2009, tl~ae
<br />t_:entral t:,~art-idor in ?0'14, and a. Southwest line
<br />in 2017.
<br />5orrae area malls have been quite succeasEul
<br />recently in drawing new tenants to them.
<br />Rosedaic: recently antrourtc:ed tla,rt i.t: will
<br />ha~rc. six new stores touting thts spring;. `Whey
<br />include:
<br />• Rocco Altol:>elli tialon Sc Day tipa
<br />• Flame Cocaking 1X1ith Fire 1estaurant
<br />• C.). E3anks
<br />• y~'hite Nou•ae. Mack. Marker
<br />• J. Carew
<br />• Sephora
<br />The. ~^fall of <~rnerica ~~'ill Ue adding nine ne~v
<br />.tore+ in 2408.
<br />• l~c:st:l3u~~
<br />• Lacostc^
<br />• L.e4~i's
<br />• Kuehl
<br />• Gilly Hicl..~ tiydnep
<br />• Caeox
<br />• lank and Jack
<br />• Papyrus sr,;atiottary
<br />• Pandora Jewelry
<br />• Nickelodeon l~niverse -the new
<br />arnusrn ent park rcpt acirt~ l amp snoopy
<br />PROPERTY NAME TENANT
<br />A look ar the nutubers for retail far tlac first
<br />quarter reflect 58,142 SF. Comnttmiry Centers
<br />were thc~ 1>c:.t pertt:arntc rs witl; 87,792 Sl~ of ab..
<br />sorption and ~-acanc}~ fell from 3.5`%, to ~9`?0-
<br />Regional CentC'rs had. absorption of 11,423 SF
<br />arul vacancy remaiaaed ;a r. 5.3°./0. Neiglal>orktood
<br />Centers came in with a ntgativc 33,18 Sh,lifr-
<br />ingvacancy from 6.2%a to 6.3°~. Minneapolis
<br />~;13D ~.parti~ recorded sr negar,ive 1;,875 SF and
<br />vacancy rose from 16.6°%o to li.~~°4,.
<br />CITY, STATE SF
<br />Central & University North Memorial Health Care Minneapolis, MN 6,158
<br />The Shopper of Woodbury Village American Burger Restaurant Woodbury, MN 2,622
<br />Starlite Shopping Center Midwest Cellular Brooklyn Park, MN 1,447
<br />Anderson Lakes Shopping Center Yoga Prairie Eden Prairie, MN 1,200
<br />U.S. Bank Center Patricia's Altering & Tailoring St. Paul, MN 793
<br />The Shopper of Woodbury Village Liberty Tax Woodbury, MN 693
<br />PROPERTY NAME CITY, STATE $!SF YEAR BUILT
<br />Victor Marketplace Hugo, MN $169 2006
<br />North Star International Minneapolis, MN $106 1971
<br />1900 Tower Drive West Stillwater, MN $104 NIA
<br />9450 Dunkirk Lane North Maple Grove, MN $70 1998
<br />800 West Broadway Avenue Minneapolis, MN $62 1925
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