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NorthMarq Compass

(formerly published as United Properties'
Outlook Market Research Report)

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Current Features

Less Development, More Discounting Seen As Twin Cities Land Prices Tumble

Land values in the Twin Cities continued to decline in the second half of 2008 as the economy buckled under the weight of the financial crisis. Speculative land values for all product types have declined by as much as two-thirds from the recent peak. Discounts are steepest in areas that buyers anticipated were next in line for new residential and retail expansion because of the highly inflated values.

January 2009

Turbulent Year Ends on a Sobering Note for Twin Cities Commercial Real Estate Investors

Commercial real estate investment activity slowed to a crawl in the Twin Cities in the second half of 2008 as the chaos in the financial markets drove investors and their capital to the sidelines. Overall volume for the year was considerably less than half the volume seen in 2007.

January 2009

Deflated Expectations: Office Market Weakens as Leasing Volume Sinks

Where have all the tenants gone? It was a question many Twin Cities landlords might have asked during the second half of 2008 as the number of leases in process dwindled. This downturn is different, say industry observers. Even though the market-wide vacancy rate is still below 16%, the market is behaving as if conditions were much worse.

January 2009