Re: Downtown Office Market
Posted: December 4th, 2012, 1:30 pm
Google still lists them at 1 Main St SE. Hennepin & Main St, a block closer to the river than Nye's.
Architecture, Development, and Infrastructure of the Twin Cities
https://urbanmsp.com/
I have heard from a reliable source they are still visualizing building something tall at 10th and Marquette, but no firm proposals. I don't think it's quite dead, but as you say they may be competing against themselves right now. My biggest hope for 10th and Marquette would be for Dorsey and Whitney to relocate there, but maybe they are interested in the Warehouse District office building?I hadn't heard anything about a project at 10th and Marquette for years, and even then it was just a brief mention. I would assume that is totally dead...Hines wouldn't be marketing two towers at once in this market I don't think. That would be competing against themselves.
Law firms are so customer-focused (like banks) that they tend to be the epitome of Class A office space: lots of glimmer and shine. I'm sure there are exceptions to this but I'd expect Dorsey & Whitney (or the like) to sooner build a brand-spanking new Class A tower than refurbish a 100+ year old warehouse.I have heard from a reliable source they are still visualizing building something tall at 10th and Marquette, but no firm proposals. I don't think it's quite dead, but as you say they may be competing against themselves right now. My biggest hope for 10th and Marquette would be for Dorsey and Whitney to relocate there, but maybe they are interested in the Warehouse District office building?I hadn't heard anything about a project at 10th and Marquette for years, and even then it was just a brief mention. I would assume that is totally dead...Hines wouldn't be marketing two towers at once in this market I don't think. That would be competing against themselves.
Do I see a 1000 foot tower on the horizon?Everything we've ever wanted to know about the state of the downtown office market: http://finance-commerce.com/2012/12/lan ... buildings/ (free)
You will if it's built!Do I see a 1000 foot tower on the horizon?Everything we've ever wanted to know about the state of the downtown office market: http://finance-commerce.com/2012/12/lan ... buildings/ (free)
Maybe not 1000 feet, but it sure makes the 10th and Marquette parcel appear very desirable for office development.Do I see a 1000 foot tower on the horizon?Everything we've ever wanted to know about the state of the downtown office market: http://finance-commerce.com/2012/12/lan ... buildings/ (free)
I'm here all week!
Not in Minneapolis.Do I see a 1000 foot tower on the horizon?Everything we've ever wanted to know about the state of the downtown office market: http://finance-commerce.com/2012/12/lan ... buildings/ (free)
Yes, I think your comments are right on target for the future. One of the positives of this apartment boom is it has gobbled up a lot of vacant land downtown and elsewhere. It makes the remaining land more valuable and more likely for taller buildings with the density becoming more vertical. Good news for us high rise fans!Can't tell if the above post is serious. The competing municipalities is counter productive but the city is successfully working towards doubling the downtown population, while Northeast and Uptown are also growing, and numerous sources cite the increasing desire of younger people to live and work in the city. With the surface lots finally starting to get developed, Minneapolis is going to have to build up somewhat soon.
Whether or not the next tower is 1000 feet, I'd expect to see continuing and increasingly dense and tall development in Minneapolis for the foreseeable future
True, but it's beyond the suburbs vs. the city. Even the core cities do this to each other. I doubt Manhattan would be what it is today if the five boroughs never consolidated and Brooklyn and Manhattan remained separate cities competing against each other. It's gotten better than it used to be, but Minneapolis and St. Paul really need to work together and not fight against each other.competition for large office users exists in every metro in the country. there is nothing special about our situation. companies swap suburban for city and vice versa.