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January 2025 City of Ramsey Land Review <br />Market Conditions: <br />CBRE <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 />