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CBRE <br />COMMERCIAL REAL ESTATE SERVICES <br />MEMO <br />Date: October 22, 2014 <br />Pat Brama-City of Ramsey Economic <br />Development Manager/Assistant City <br />To: Administrator <br />From: Brian Pankratz and Richard Palmiter, CBRE <br />Subject: Parcel 40 Overview <br />cc: <br />Patrick <br />In reviewing the recent offer for Parcel 40 from All Seasons-MDBNK, LLC we support <br />moving forward on this transaction. The terms and contingencies outlined are typical with <br />several legal items to be further negotiated between the parties. <br />The subject property has great visibility to Highway 10 and fits for the intended use. The <br />property access will change in the future when Dolomite St no longer provides direct access <br />to Highway 10. In addition there is no regional ponding for storm water in the area so the <br />buyer will need to handle this onsite. <br />The purchase price falls within the pricing recommended by CBRE and would create a new <br />development while putting the property back on the tax rolls. <br />