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Economic Development Manager Sullivan presented the staff report. <br />Brian Pankratz, CBRE, commented that he looks forward to continuing the relationship that he <br />believes has been successful over the past 12 years. He acknowledged the work that has taken to <br />improve transportation, add residents/rooftops, increase industrial development, and build <br />momentum and interest from restaurants and retailers. He provided a market overview and more <br />specific information about the Ramsey market, acknowledging the business -friendly attitude of <br />the City and its knowledgeable staff. He identified the available pads, potential uses, and provided <br />additional market information and trends. He also reviewed the 2026 market outlook information. <br />Member Riley asked if there are specific things Ramsey should be aware of. <br />Mr. Pankratz stated that the opening of things like Taco Bell and other businesses triggers interest <br />from other businesses. He noted Parcel 50c in the COR has some challenges because a large storm <br />sewer line runs through the center. He stated that as growth continues to happen in Ramsey and <br />the area around it, the interest continues to grow. <br />Economic Development Manager Sullivan identified the parcel mentioned by Mr. Pankratz and <br />stated that there was a larger retailer interested in that area, but the box would encroach on the 88- <br />inch stormwater pipe that serves the entire area, and it would be extremely difficult, if not <br />impossible to move. <br />Mr. Pankratz commented that they tried a few different iterations to make something work on that <br />site and continue to look at other sites as well. <br />Member Riley referenced site 47e, which is a remnant that is not currently under contract with <br />CBRE, and asked if Mr. Pankratz would have any input on a potential use for that site. <br />Mr. Pankratz commented that it would be something like a bank, fitness use, or small <br />medical/dental office type user. He stated that when he receives inquiries from groups, he is in <br />conversation with City staff, and they do collaborate even if the property is not under a CBRE <br />listing. <br />Economic Development Manager Sullivan stated that the City retained this site listing because it <br />was a mixed -use site, and he has not had any issues generating interest in those types of sites. He <br />noted that the remnant could be developed as housing. He commented that CBRE does an <br />excellent job in the retail area. <br />Chairperson Wiyninger asked for more information on the identified CBRE sites and the <br />differences Mr. Pankratz sees between 2026 and 2027. <br />Mr. Pankratz stated that most retailers are represented by other brokers, and CBRE continues to <br />network with those brokers. He commented on the other efforts CBRE completes, such as email <br />blasts, updated brochures, and cross -selling. <br />Economic Development Authority/ February 12, 2026 <br />Page 2 of 6 <br />