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BRE <br />MARKETVIEW MINNEAPOLIS/ST. PAUL RETAIL <br />Figure 2: U.S. Retail Spending by Category <br />Y-o-Y (%) <br />Nonstore Retailers <br />Food Services & Drinking Places <br />Grocery Stores <br />Miscellaneous Store Retailers <br />Health & Personal Care Stores <br />Gasoline Stations <br />Electronics & Appliance Stores <br />Clothing & Clothing Access. Stores <br />Sporting Goods, Hobby, Book & Music Stores <br />Building Mat. & Garden Equip. & Supplies Dealers <br />Furniture & Home Furn. Stores <br />Department Stores <br />-15 <br />Source: U.S. Census Bureau, Q4 2019. <br />• Rolling 4-Quarters <br />imMr <br />NEW CONCEPTS, DISCOUNT RETAILERS <br />BOLSTER THE MARKET <br />-10 <br />The market has continued to see some retailers in <br />the junior box arena choose to either downsize or <br />close up shop for good. With this there have been a <br />handful of retailers that take advantage of this <br />opportunity. Discount apparel, fitness and grocery <br />continued to lead the charge in backfilling these <br />empty boxes in H2 2019 including TJ <br />Maxx/Homegoods and Planet Fitness. <br />Established national and international retail <br />concepts have announced their first locations in the <br />Minneapolis market. Barry's Bootcamp will occupy <br />8,000 sq. ft. in the North Loop, SoulCycle will <br />occupy 3,000 sq. ft. at 50th and France, and Roche <br />Bobois will occupy 4,702 sq. ft. at The Shoppes at <br />Estelle in Edina. <br />Figure 4: Largest Leases <br />-5 <br />0 5 10 <br />Figure 3: Major Leases by Submarket <br />Maplewood Woodbury <br />32% <br />Source: CBRE Research, H2 2019. <br />15 <br />Tenant <br />Sq. Ft. <br />Center <br />City <br />Landlord <br />Hobby Lobby <br />TJ Makc/Homegoods <br />Planet Fitness <br />Burlington Coat Factory <br />Planet Fitness <br />Source: CBRE Research, H2 2019. <br />61,369 <br />47,000 <br />35,540 <br />32,572 <br />28,800 <br />Ridgedale Festival Center <br />Cobblestone Court <br />The Village of Blaine <br />Arbor Lakes <br />7-Hi Shopping Center <br />Minnetonka <br />Burnsville <br />Blaine <br />Osseo <br />Minnetonka <br />Kimco Realty Corporation <br />Schafer Richardson <br />VEREIT, Inc <br />Kimco Realty Corporation <br />7-Hi Retail, LLC <br />H2 2019 CBRE Research <br />© 2020 CBRE, Inc. I 2 <br />