Memo - Downtown/Business Recritment Discussion; ElverumPlanning & Economic
Development
MEMORANDUM
TO: Honorable Mayor nd Hop hns it Council Members
Y Y
FROM: Kersten Elverum, i t of Planning & Development
DATE: July 23, 2009
SUBJECT: Downtown Discussion
A discussion has been scheduled for the July 28, 2009, work session to address a variety
of issues related to the downtown. The agenda will include the following:
• Vacancies on Mainstreet
• Exploring New Initiatives
• Business Recruitment efforts
As background, I have attached the business recruitment brochure produced through
Think Hopkins, as well as the current MNCAR listings of downtown commercial
property. I look forward to the discussion.
Page 1 of 4
Listings Summary Report
Building Size: 15,000 SF Available SF: 3,000 SF
General Use: Retail Max Contig: 3,000 SF
Specific Use: General /Street Retail Min Div: 1,000 SF
Status: Existing Lease Rate: $14.00 Net
Year Built: 2007 Sublease: No
Parking Ratio: 6.66 /1000 Listing Agent:
Major Tenants: Edina Realty
Baby Grand Mainstreet Ed Hanlon
1010 Mainstreet (952) 945 -3163
Hopkins, MN 55343
Listing Notes: Ideal use for business that would enjoy the benefit of being close to a major baby and child producr retailer. Baby Grand is
a highly successful Baby furniture and assessories store.
Building Size: 14,836 SF Available SF: 8,000 SF
General Use: Retail Max Contig: 8,000 SF
Specific Use: General /Street Retail Min Div: 3,500 SF
Status: Existing Lease Rate: $10.00 Net
Year Built: Sublease: No
Parking Ratio: 2.02 /1000
Listing Agent:
Major Tenants: Edina Realty
13 -17 8th Ave S Blunt Carlson Carpet Ed Hanlon
The Little Blind Spot (952) 945 -3163
13 -17 8th Ave S Studio 13
Hopkins, MN 55343
Listing Notes: Home improvement centerwith Little Blind spot as anchor. Former Blunt Carlson Carpet. 5000 SF on main floor. Lower
level 3500 SF is clean with high ceilings. Sprinkled building very clean
Building Size: 18,216 SF
Available SF: 4,433 SF
General Use: Retail
Max Contig: 2,860 SF
Specific Use: Community Center Min Div: 1,573 SF
Status: Existing
Lease Rate: Negotiable NNN
Year Built: 2003
Sublease: No
Parking Ratio: 2.96 /1000
Listing Agent:
Major Tenants:
Cerron Commercial Properties
Hopkins Marketplace Roz Peterson
750 Mainstreet (952)469 -9444
Hopkins, MN 55343
Listing Notes: Join Chipotle, Camilles, Fantastic Sams and others in this redevelopment of downtown Hopkins. One last bay available- -
great for cell phone user, fitness, boutique, art gallery etc. Near new Cargill corporate headquarters and proposed light rail.
http: // www.mncar.org /propertysearch.htm 07/24/2009
Page 2 of 4
Listings Summary Report
810 Mainstreet
810 -812 Mainstreet
Hopkins, MN 55343
Listing Notes:
Building Size: 4,140 SF Available SF: 4,140 SF
General Use: Retail Max Contig: 4,140 SF
Specific Use: General /Street Retail Min Div: 1,540 SF
Status: Existing Lease Rate: $9.70 - $12.00 NN
Year Built: 1900 Sublease: No
Parking Ratio: 1.2 /1000 Listing Agent:
Major Tenants: Edina Realty
Ed Hanlon
(952) 945 -3163
http : // www.mncar.org /propertysearch.htm 07/24/2009
Page 3 of 4
Listings Summary Report
Building Size: 8,024 SF Sale Type:
General Use: Retail Price: $975,000
Specific Use: General /Street Retail Price /SF: $121.51
Status: Existing
Year Built: 1951
Parking Ratio: 2.49 /1000 Listing Agent:
Edina Realty
Snyder Drug Building Major Tenants: Ed Hanlon
15 9th Ave N Snyder Pharmacy (952) 945 -3163
Hopkins, MN 55343 -7626
Listing Notes: .45 Acre Lot 152'x 129' Zoned 62 CBD with its own and municipal parking lots. City approved Drive Up window in 'o8. Well
maintained A block from mainstreet close to center ther retail stores, hardware, bank, gorcery, liquor etc.
Building Size: 1,290 SF
General Use: Retail
Specific Use: Automotive
Status: Existing
Year Built: 1998
Parking Ratio: 11.62 /1000
Major Tenants:
Sale Type:
Price: $325,000
Price /SF: $251.94
Listing Agent:
Suntide Commercial Realty, Inc.
Stephen Dombrovski
(651) 209 -9612
Building Size: 36,000 SF Sale Type:
General Use: Retail Price: Negotiable
Specific Use: Convenience /Strip Center Price /SF:
Status: Existing
Year Built: 1960
Parking Ratio: 5 /1000 Listing Agent:
Edina Realty
Suburban Square Major Tenants: Ed Hanlon
4 -12 Shady Oak Rd TNT (952) 945 -3163
Hopkins, MN 55343 Tobacco & Gifts
Listing Notes: Recent fire together with future udgrade of CR 61 (Shady oak Rd) creates a very nice development opportunity. 18,000 Sq
Ft Retail with 18,000 Sq Ft lower level Shop/WH /Off. Adjacent properties could be assembled as well.
http: // www.mncar.org /propertysearch.htm 07/24/2009
�.
Valvoline Hopkins
1821 Mainstreet
Hopkins, MN 55343
Listing Notes:
Building Size: 1,290 SF
General Use: Retail
Specific Use: Automotive
Status: Existing
Year Built: 1998
Parking Ratio: 11.62 /1000
Major Tenants:
Sale Type:
Price: $325,000
Price /SF: $251.94
Listing Agent:
Suntide Commercial Realty, Inc.
Stephen Dombrovski
(651) 209 -9612
Building Size: 36,000 SF Sale Type:
General Use: Retail Price: Negotiable
Specific Use: Convenience /Strip Center Price /SF:
Status: Existing
Year Built: 1960
Parking Ratio: 5 /1000 Listing Agent:
Edina Realty
Suburban Square Major Tenants: Ed Hanlon
4 -12 Shady Oak Rd TNT (952) 945 -3163
Hopkins, MN 55343 Tobacco & Gifts
Listing Notes: Recent fire together with future udgrade of CR 61 (Shady oak Rd) creates a very nice development opportunity. 18,000 Sq
Ft Retail with 18,000 Sq Ft lower level Shop/WH /Off. Adjacent properties could be assembled as well.
http: // www.mncar.org /propertysearch.htm 07/24/2009
Page 4 of 4
Listings Summary Report
Building Size: 1,411 SF Sale Type:
General Use: Retail Price: $305,000
Specific Use: Restaurant - Fast price /SF: $216.16
Food
Status: Existing
Year Built: 1975 Listing Agent:
Parking Ratio: Restaurant Brokers of Minnesota,
Major Tenants: Inc.
802 Mainstreet DJ Sikka
802 Mainstreet (952) 922 -7211
Hopkins, MN 55343
Listing Notes: This was an Italian restaurant (Formerly Michaelangelos)with a sidewalk cafe and nice outdoor patio area. Located in a
high traffic area near downtown and development projects in Hopkins, plenty of room to expand. Some equipment will remain may need
care, building size 1,411 square feet plus parking. Asking price $305,000. Call DJ Sikka 952 - 929 -9273 or (cell)612- 701 -6296.
810 Mainstreet
810 -812 Mainstreet (952) 945 -3163
Hopkins, MN 55343
Listing Notes: Great location in center of Mainstreet in Hopkins busiest block. Mainstreet Grill and Liquor on Either side.Open space plan
with existing built in display coolers.
Building Size: 4,734 SF Sale Type:
General Use: Retail Price: $299,000
Specific Use: General /Street Retail Price /SF: $63.62
Status: Existing
Year Built: 1967
Listing Agent:
Copperwood Investments
Tom Bissen
(763) 230 -7906
Parking Ratio: 12.67 11000
811 Mainstreet Major Vila"ts:
811 Mainstreet
Hopkins, MN 55343 -7626
Listing Notes: Great Historic Mainstreet Hopkins property
bathrooms, etc. Estimated NOI at $25,000 - $28,000.
http: // www.mncar.org /propertysearch.htm
Perfect fopr the the hands on investor. Building has updated roof, HVAC,
07/24/2009