Midwest Real Estate News (June/July 2016) : Page 4

4 | Midwest Real Estate News | JULY 2016 | www.rejournals.com FEATURES Your CRE professional does what? We all have hobbies. But do you play trumpet in a wedding band? Do you race cars? Are you an avid beekeeper? Maybe not. But commercial real estate professionals across the Midwest claim all of the above hobbies, and more. Hunt Midwest’s new multifamily project to 1 bring boost to Kansas community There’s plenty to like about downtown Overland Park in Kansas: The city’s urban center is pedestrian-friendly, dotted with shops and restaurants. It boasts an active farmer’s market, a busy community center and an historic theater that brings charm to the area. What does it need? More multifamily development. People matter when it comes to CRE financing Midwest Real Estate News recently spoke with Paul Schmidt, head of commercial real estate in the Minneapolis office of Associated Bank; Daniel Kaufman, managing director with Chicago’s HFF; and Susan Blumberg, senior vice president and managing director with the Chicago office of NorthMarq Capital, about what it takes for investors and developers to qualify for commercial financing today. The key, these pros say, is the people behind the financing requests. Kraus-Anderson turning “wind-9 swept” parking lot into destination in downtown Minneapolis Minneapolis developer Kraus-Anderson celebrated the ground-breaking on its new 100,000-square-foot headquarters April 28. But the night was about more than the new five-story building at 525 S. 8th St. in downtown Minneapolis. It was about a master plan developed by Kraus-Anderson to transform the entire block surrounding its headquarters building. PROFILES/COLUMNS Betting on the Strand Theatre in downtown Pontiac Kyle Westberg looks at downtown Pontiac, Michigan, and sees nothing but promise. Yes, Pontiac, like Detroit, struggled mightily during and after the Great Recession. But a new theater project in the city’s downtown is providing a much-needed boost. National, local retailers flocking to Grand Rapids Grand Rapids is in the middle of a retail boom, with the occupancy rate of retail properties in the market soaring to 91.06 percent in the first quarter of 2016. That is just one piece of good news from the first quarter West Michigan retail report recently released by Colliers International. the DuPage Airport take fight 14 Helping The DuPage Airport in West Chicago, Illinois, was bleeding money before Daniel Goodwin joined its governing board in late 2002. By the time Goodwin was named chairman of the DuPage Airport Authority in January of 2003, the airport about 29 miles west of Chicago was $26 million in debt and was suffering annual operating losses. Goodwin, though, changed that. Seniors housing still in boom mode The seniors housing industry has never been stronger, at least according to a new survey that reports a record number of transactions and nearly $20 billion in institutional sales in this commercial real estate segment. 1 10 Smaller tenants thriving in retail today Midwest Real Estate News recently spoke with Jeff Berta, senior director of real estate development with Chicago’s Structured Development, about the state of the retail sector. Berta said that the retail segment is on the rise, with smaller retailers especially doing well today. 21 Editor’s Letter ..............................................6 A grand plan in Grand Rapids .................... 12 ... Kara Wood, economic development director, city of Grand Rapids Market position: How offices kill start-ups Margy Sweeney, Akrete ..............................22 Without proper planning, loans to LLCs or partnerships may cost you Mark Sutton and Sarah Wolters, Plante Moran ... 23 Four benchmarks for evaluating new hotel projects John Petrovski, BMO Harris Bank ......................... 24 13 8 DLA Piper: CRE execs still like real estate, but they do have concerns Executives are still high on the commercial real estate industry. This doesn’t mean, though, that they don’t have concerns about future economic turmoil slowing commercial deals. That’s the big takeaway from DLA Piper’s 2016 State of the Market Real Estate Survey. 27 E-commerce’s big industrial impact E-commerce continues to drive the industrial market across the United States, forcing owners and occupiers to adapt to consumers’ increasing desires to order products one day and have them show up on their front porches in 48 hours. 27 DEPARTMENTS Directory listings .................................................. 29 20 Will rising interest rates slow commercial deals? Commercial real estate leaders are confident in the strength of the commercial real estate market. But they’re also realistic enough to recognize that all commercial sectors will face their own challenges in the coming months. 28 C M Y CM MY Design Assistance utility incentive programs to support New Construction projects in Illinois, Iowa, Minnesota, Missouri and Wisconsin Contact us to learn how your project can qualify to receive incentives and a free energy analysis energyassistance.twgi.com 877.938.1588 CY CMY K

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