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the ,,>utnnu°r, as ai.l. pr-ii:es treated `150 pdr
<br />bane{, the cost: to ship 1>roducta across the
<br />ocean t,>se drarnatic111}. The cost of shipping
<br />i.~ just one aspect char r c:~rusin;; locstl lnanu-
<br />fac tu-ers tc> reconicht overseas rnanu#act:ur-
<br />ing. The rising cost of global alaries and the
<br />U-eakcni.ng dollar xls<> tractor into the egoa-
<br />tiorr. ~T~his doesn't meat[ that all those jobs
<br />sLtipped overseas t~~ill return, bu.t the higher
<br />cost of slrippin~ dues have nranufacntrers
<br />considering where their etrstcuners are. lo-
<br />car~ d, and. what the must: e conornical v~~ay t:o
<br />nrarrufatturz arul di~trihtire the pxoduct is_
<br />C;ot:tructiou season i;; starting to wrap tip
<br />for thc• vezu in Minrte.:ota, .tn+:{ tv~itla tl-rat,
<br />r6e »i\r 1>rid„<; in _'~~(inn•tpc>]i rc:-irpcnrd
<br />in late September. A~/hile. many businesses
<br />did not appear to be affected dire~cCl.y by t1~te
<br />bridge closing, nc~ re-ol:rerring will help the
<br />tZow of traffic and rev{rtce travel dist.Ynces
<br />for titatty drivers- This is particrdarly gooc{
<br />ne~G,s f~~r corrstrnrers, as gas prices remain
<br />hiu>!r lxri h<avc lie{d rel<rticely steady over the
<br />pa sr illl~tCtrr.
<br />"C'he average risking rate for industrial prop-
<br />ertit~s w~asrui~ed {n rlie third quarter. Bulk.
<br />Warehouse rates rose 1"~, to `14.30; Office
<br />Showraoru rates climbed 1.5%, to $4.i2;
<br />v.~lrile Office \Y'areh~}ttse rat<-s till ?`c, to
<br />54.35.
<br />l}tilk \\%areitou.~e <pat t was the bast :itfected,
<br />~.~-u_hr u~,;ativt~ al>sor2?tion of ci,255 Sl~ for tht'
<br />third. quarter. Office Warehouse space had
<br />ne,~>arrve abarpriori ut 9i,°41 SF and Office
<br />Shy>+,atiic~tu lta<{ :r n:<rattvr 231,234 SF'.
<br />Bulk Warehouse v::u;<utcv remained un-
<br />c{rata;>ed at t5.~`"0. C)ffii:£ w:trehousc; space
<br />rase sli,hrly from 9.5"b to 9.6`,'~o and <}ffice
<br />Sho~s>room spate caintbed frt>rn 1?.1`.ii, ti}
<br />1_~.3`?~,. '~hhe• overall vacancy climbed irotn
<br />11.2°c, to 11.5°4,. Akt{-ren the. single tenant
<br />buildintYs are iaetored into the infix, vacancy
<br />climbed iron[ 6.={`,'~ to ti.6`,'0.
<br />i-
<br />3
<br />i~
<br />t
<br />I~
<br />8
<br />
<br />
<br /> Q4 QI Q2 Q3 Q4 QI Q2 Q3
<br /> 2006 2007 2008
<br />PROPERTY NAME CITY, STATE $/SF YEAR BUILT
<br />14520 Main St. Rogers, MN $272 1981
<br />Colorspan Building-1st Floor Hopkins, MN $55 1980
<br />7215 Cahill Rd. Minneapolis, MN $50 1965
<br />Northland Drive St. Paul, MN $50 1974
<br />Carmen Distribution Center Inver Grove Heights, MN $37 1988
<br />900 N. 3rd St. Minneapolis, MN $36 1919
<br />PROPERTY NAME TENANT CITY, STATE SF
<br />Wickes Distribution Center Arden Fasteners Brooklyn Center, MN 87,000
<br />Louisiana Distribution Center Innoflex Corporation New Hope, MN 72,731
<br />Lemar Building Reflections Printing, Inc. St. Louis Park, MN 51,648
<br />Interstate Distribution Center ABC Supply Burnsville, MN 51,500
<br />Huntington Building ABC Supply Savage, MN 51,000
<br />Interstate West Storage Equipment Plymouth, MN 41,848
<br />Plymouth Industrial Bldg C WW Grainger Inc. Plymouth, MN 35,402
<br />Golden Hills II Textron Golden Valley, MN 25,891
<br />50th Ave Distribution Center Allied Building Products Brooklyn Center, MN 15,000
<br />Park West Industrial Center Cintas Brooklyn Park, MN 13,122
<br />Evergreen Industrial Bldg 13 Catheter & Medical Design Inc. Roseville, MN 12,000
<br />Park Industrial Village Bldg G Camp Bow Wow Plymouth, MN 11,250
<br />Waterbury Building Mercy Vineyard Church Minneapolis, MN 9,133
<br />Evergreen Industrial Bldg 12 Premium Carpet Installations Roseville, MN 9,040
<br />Timberland North I Abel Conn Brooklyn Park, MN 5,623
<br />Lyndale Commons I Avant Energy, Inc. Bloomington, MN 4,200
<br />Airport Business Plaza Reluminate Inc. Mendota Heights, MN 3,867
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