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Roseville Crossing, a 32,000 sq. ft.
<br /> STUDY NUMBER OF GROSS TOTAL PERCENT ANNUAL NET retail center on County Road C and
<br /> MARKET SECTOR DATE CENTERS LEASABLE AREA AMOUNT VACANT VACANT ABSORPTION Snelling was completed by Slawik
<br /> WASHINGTON COUNTY Enterprises.
<br /> Neighborhood 1994 7 466,065 61,832 13.3% 10,950 Maplewood Retail Center,a 245,000
<br /> • 1995 7 466,065 45,664 9.8% 16,168 sq. ft. project located at Hwy 36 and
<br /> 1996 7 467,065 57,500 11.3% (11,836)
<br /> Community 1994 10 1,892,052 176,209 9.3% 37,581 White Bear Avenue, by Ryan
<br /> 1995 11 2,006,452 226,506 11.3% 64,103 Companies, is anchored by Cub Foods,
<br /> 1996 11 1,035,745 309,528 15.2% (83,022) Home Depot, and Petsmart. Opening is
<br /> Regional NONE scheduled for Spring 1996.
<br /> Specialty NONE Vadnais Square,to be developed by
<br /> Total 1994 11 2,358,117 238,041 10.1% 48,531 Fontana Development,is a 260,000 sq.ft.
<br /> 1995 18 2,471,517 272,170 11.0% 80,271
<br /> 1996 18 2,502,810 361,028 14.1% (94,858) center in Vadnais Heights anchored by
<br /> WEST Target stores. Neighborhood opposition
<br /> Neighborhood 1994 31 1,734,416 91,503 5.3% 65,521 has delayed the project.
<br /> 1995 31 1,677,732 100,052 6.0% (31,583) Maplewood will see increased activ-
<br /> 1996 31 1,677,732 119,689 7.1% 14,013 ity with the completion of a new 225,000
<br /> Community 1994 7 1,063,548 68,711 6.5% (29,872) sq. ft. Daytons store (1997 opening) at
<br /> 1995 7 1,063,548 67,757 6.4% 954 Maplewood Mall. This is the first new
<br /> 1996 7 1,063,548 26,060 2.5% 41,697 Dayton's store in the Twin Cities in 17
<br /> Regional 1994 2 1,670,000 32,300 1.9% 16,125 years. With the new Dayton's store and
<br /> 1995 2 1,670,000 31,000 1.9% 300 a new Mervyn's store,the Mall space will
<br /> 1996 2 1,670,000 32,000 1.9% 0
<br /> Specialty NONE be increased by 20%.
<br /> Total 1994 40 4,467,964 192,514 4.3% 51,774 The arrival of this premier anchor
<br /> 1995 40 4,411,280 199,809 4.5% (30,329) creates tremendous excitement in the
<br /> 1996 40 4,411,280 177,749 4.0% 55,710 adjoining and nearby retail centers.
<br /> METROPOLITAN TOTAL Rates should increase and vacancies
<br /> Neighborhood 1994 190 12,445,028 1,282,678 10.3% 175,486 should decrease in the next two years.
<br /> 1995 189 12,351,042 1,096,907 8.9% 188,043
<br /> 1996 189 12,226,226 1,146,313 9.4% 140,852 ST. PAUL
<br /> ,Community 1994 61 11,358,266 872,790 7.7% 144,776
<br /> 1995 64 11,878,829 1,017,746 8.6% 375,607 The St. Paul market consists of 23
<br /> 1996 67 12,542,544 1,100,177 8.8% 527,569 shopping centers with a total of 2.4
<br /> Regional 1994 19 14,716,126 1,013,917 6.9% 353,903 million sq. ft. Vacancy rates overall are
<br /> 1995 19 14,428,137 749,114 5.2% 26,814 18.4%, up from 14.6% one year ago.
<br /> 1996 20 14,732,166 1,174,413 8.0% 10,321 Annual net absorption was 336,840 sq.ft.
<br /> Specialty 1994 12 1,467,978 351,897 24.0% (60,592)
<br /> 1995 11 1,382,380 358,677 25.9% (12,580) Anew 44,000 sq.ft.center,Highland
<br /> 1996 Il 1,382,380 313,500 22.1% 1244,,915 975 Crossings, was completed by Opus
<br /> Total 1994 282 39,987,398 3,521,282 8.8% 613,573 Corporation in Highland Park and
<br /> 1995 283 40,040,388 3,222,444 8.0% 577,884 consists of Barnes and Noble Books,
<br /> 1996 287 40,883,315 3,734,403 9.1% 803,717 Caribou Coffee and Video Update.
<br /> ©Towle Real Estate Company
<br /> In Richfield, Lyndale Shops I, was NORTHEAST SECTOR PERCENT OF TOTAL 10 YEAR
<br /> completed in 1994 by CSM Corporation This sector includes the trade areas DEVELOPMENT BY SECTOR
<br /> and added Best Buy, Sportmart and of Maplewood, Roseville, Shoreview, 12,570,135 SO.FT.DEVELOPED
<br /> Petsmart to that trade area. Phase II is Vadnais Heights, White Bear Lake and SECTOR %OF DEVELOPMENT
<br /> underway now and will host 100,000 other Northeastern communities (see Southwest 32%
<br /> sq. ft. of additional space including the p page )
<br /> sector ma on age 4 . Dakota County 15%
<br /> first new store for Land's End. It has 15% of the total market's Washington County 13%
<br /> In Bloomington, Kraus Anderson is space and 20% of the total market's Northeast 12%
<br /> renovating and expanding the 35-year vacancy. Absorption in 1995 was a nega- Anoka County 10%
<br /> old Southtown Center by 110,000 sq. ft. tive 198,406 sq. ft. Vacancy rates have Northwest 7%
<br /> A community center of 320,000 increased from 8.7% to 12% in 1995 with St.Paul 5%
<br /> sq. ft. has been proposed by the Ryan the majority of the increase in vacancy in Minneapolis 3%
<br /> Companies in St. Louis Park for the regional and community centers. West 3%
<br /> eywell site near I-394 and Hwy 100. ©Towle Real Estate company
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