Downtown Minneapolis Office Market
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- Landmark Center
- Posts: 223
- Joined: June 1st, 2012, 9:12 am
Re: Downtown Office Market
The best thing to happen in the office market would be to see high-quality projects that reflect increased downtown employment and add to the city's vitality.
The worst thing to happen would be bland new projects located in DTE largely because of the parking ramps required for the stadium and which draw relocation from the core of downtown, leaving lots of vacant space there.
In short, new development is not a priori a healthy thing for downtown as a whole.
HEIGHT CORROLARY:
Outside of issues of architectural quality and street presence, it's important to remember that we're in a downtown to which about 60% of workers still commute by car. This means that whatever parking can't be incorporated into a development spills over as demand for parking in ramps and surface lots. The taller the building, the harder it becomes to prevent this from happening, with the resulting potential for negative impact on land usage and street life.
In short, tall buildings aren't a priori healthy for downtown as a whole.
How development happens is at least as important as that it happens.
The worst thing to happen would be bland new projects located in DTE largely because of the parking ramps required for the stadium and which draw relocation from the core of downtown, leaving lots of vacant space there.
In short, new development is not a priori a healthy thing for downtown as a whole.
HEIGHT CORROLARY:
Outside of issues of architectural quality and street presence, it's important to remember that we're in a downtown to which about 60% of workers still commute by car. This means that whatever parking can't be incorporated into a development spills over as demand for parking in ramps and surface lots. The taller the building, the harder it becomes to prevent this from happening, with the resulting potential for negative impact on land usage and street life.
In short, tall buildings aren't a priori healthy for downtown as a whole.
How development happens is at least as important as that it happens.
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- Wells Fargo Center
- Posts: 1331
- Joined: June 8th, 2012, 1:39 pm
- Location: George Floyd Square
Re: Downtown Office Market
The sales continue: Someone wanted to buy the TriTech building, apparently:
http://finance-commerce.com/2013/03/tri ... 5-million/
http://finance-commerce.com/2013/03/tri ... 5-million/
Re: Downtown Office Market
Pretty neat graphic of available space in Minneapolis using a building-by-building technique. Wells Fargo seems to be the current premium space based upon its price of $37.27 per square foot:
http://assets.bizjournals.com/twincitie ... line.2.pdf
http://assets.bizjournals.com/twincitie ... line.2.pdf
“Wise men speak because they have something to say; fools because they have to say something.” ― Plato
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- Metrodome
- Posts: 78
- Joined: June 4th, 2012, 6:15 am
Re: Downtown Office Market
^^^^ Interesting that the 5th St Towers have a large amount of vacancy. Espcially since it is very close to the LRT stop.
Re: Downtown Office Market
I was thinking along the same lines. I wonder how the office space compares to newly renovated buildings?^^^^ Interesting that the 5th St Towers have a large amount of vacancy. Espcially since it is very close to the LRT stop.
Re: Downtown Office Market
http://www.bizjournals.com/twincities/b ... earch.html
This could be interesting- two law firms who each have over 100,000 SF in the IDS are looking at possible other locations. Article does not mention what their space needs are.
This could be interesting- two law firms who each have over 100,000 SF in the IDS are looking at possible other locations. Article does not mention what their space needs are.
Re: Downtown Office Market
That's exactly what I stated in another skyscraper forum.^^^^ Interesting that the 5th St Towers have a large amount of vacancy. Espcially since it is very close to the LRT stop.
Re: Downtown Office Market
That is an old bank space if i'm not mistaken. Nice to see it filled, it has been a shell for years.
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- Nicollet Mall
- Posts: 112
- Joined: September 11th, 2012, 3:31 pm
- Location: Downtown
Re: Downtown Office Market
With this, the Cambria showroom and whatever is going in on the ground floor of the NorthStar Center - Off Marquette, I think it's going to be a bank - 7th street is really filling out at the street level.
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- IDS Center
- Posts: 4092
- Joined: June 3rd, 2012, 9:33 pm
- Location: Merriam Park, St. Paul
Re: Downtown Office Market
Centerpoint is looking for 100k sq ft.
Not new construction.
http://www.bizjournals.com/twincities/b ... ntown.html
Not new construction.
http://www.bizjournals.com/twincities/b ... ntown.html
Q. What, what? A. In da butt.
Re: Downtown Office Market
They're looking for 100,000 square feet of space in a green building in 2016. Wonder if they'll wind up in Xcel's old digs at Marquette Plaza? Can't do better than LEED-Platinum.
Joey Senkyr
[email protected]
[email protected]
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- Stone Arch Bridge
- Posts: 7767
- Joined: June 19th, 2012, 2:04 pm
- Location: NORI: NOrth of RIchfield
Re: Downtown Office Market
Empirically denied. Glass curtain walls did not exist before the thermostat era. Steve Mouzon explains. http://www.originalgreen.org/Can't do better than LEED-Platinum.
Re: Downtown Office Market
Thermal massing and more modest glazing are great for small and medium businesses and homes, but I don't think you could convince a big corporate user to abandon their class-A office lifestyle.
Re: Downtown Office Market
That's fair. I'll rephrase:
On the official USGBC scale that corporations love, you can't do better than LEED-Platinum.
On the official USGBC scale that corporations love, you can't do better than LEED-Platinum.
Joey Senkyr
[email protected]
[email protected]
Re: Downtown Office Market
Looks like our trio of white towers on Washington are going up for sale...
http://www.bizjournals.com/twincities/b ... ?full=true
http://www.bizjournals.com/twincities/b ... ?full=true
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- IDS Center
- Posts: 4092
- Joined: June 3rd, 2012, 9:33 pm
- Location: Merriam Park, St. Paul
Re: Downtown Office Market
More importantly, the half ramp between Hennepin & 1st with the VERY develop-able parking lot facing Bridge Square.
Q. What, what? A. In da butt.
Re: Downtown Office Market
Just to go off topic for one second, but still on the topic of bridge square. Look at the original design for the two apartment buildings:
original source (I copied and hosted the picture elsewhere):
http://danwhittaker.com/tea/mod/HTML/sld137.htm
original source (I copied and hosted the picture elsewhere):
http://danwhittaker.com/tea/mod/HTML/sld137.htm
Re: Downtown Office Market
Awesome, Too bad they're not quite that glassy... Though I do like them anyways.
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- Moderator
- Posts: 6405
- Joined: May 31st, 2012, 7:27 pm
- Location: Standish-Ericsson
Re: Downtown Office Market
Ramp2TonMore importantly, the half ramp between Hennepin & 1st with the VERY develop-able parking lot facing Bridge Square.
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