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CBRE <br /> January 2025 City of Ramsey Land Review <br /> Market Conditions: <br /> 1. Economic factors impacting new development-interest rates, equity requirement, <br /> construction costs, labor availability <br /> 2. Zero to limited traditional office demand <br /> 3. Medical office struggling from COVID policies, financial impact but starting to see <br /> interest for new locations from existing practices/clinics <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-Higher interest rates impacting demand <br /> f. Industrial-Higher equity requirements/cap rates impacting financing <br /> 5. Hwy 10 improvements positive impact on traffic flow, time, safety <br /> 6. Increased traffic counts and population increasing interest. Retail attracts retail <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 /> 16. Take 5 <br /> City of Ramsey-CBRE Under Contract/PA Discussion <br /> 1. Capital Real Estate, Inc. (Chipotle) <br />