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January 2024 City of Ramsey Land Review <br /> Market Conditions: <br /> 1. Economic factors impacting new development-interest rates, equity requirement, construction <br /> costs, labor availability <br /> 2. Zero to limited traditional office demand <br /> 3. Medical office struggling from COVID policies,financial impact <br /> 4. Sectors with demand <br /> a. Retail-single tenant, drive thru requirements, service based <br /> b. Medical Office-Small users <br /> c. Apartments- Higher equity requirements/cap rates impacting financing <br /> d. Senior housing-Higher equity requirements/cap rates impacting financing <br /> e. For Sale Housing <br /> f. Industrial-Higher equity requirements/cap rates impacting financing <br /> 5. Impact of Hwy 10 on new development unknown <br /> 6. Increased traffic counts and population increasing interest <br /> 7. Create flexible zoning districts <br /> 8. Drive thru in demand from QSR and fast food operators <br /> City of Ramsey-CBRE Closed Deals <br /> 1. Municipal Center NIK <br /> 2. Aeon <br /> 3. Centra Homes <br /> 4. Common Bond <br /> 5. Inland Development/Affinity <br /> 6. PSD, LLC <br /> 7. Coastal Living <br /> 8. Stone Brook Daycare <br /> 9. Purmort Homes <br /> 10. Muni Center-Meadow Creek <br /> 11. GiGi's Salon and Spa <br /> 12. Java Properties—O'Reilly Auto Parts <br /> 13. Stories Foundation <br /> 14. Aldi <br /> 15. Ramsey Properties-Hilton Home 2 <br /> City of Ramsey-CBRE Under Contract/PA Discussion <br /> 1. Centra Homes <br /> 2. Norhart <br /> Monthly Blast of properties to 3000 prospects including users, brokers, builders, contractors, <br /> developers, investors, etc. Properties are posted on MnCAR/Catalyst, Loopnet, Costar, Crexi, CBRE.com. <br /> Cold/Warm Call outreach to developers, users, brokers <br />