As a team, we work heavily in mixed-use leasing and development sourcing. Our team handles the commercial leasing on many mixed-use projects within the Twin Cities market, where we also source and find locations for mixed-use apartment developers. This article will give a current snapshot of the mixed-use retail and apartment market within the Twin Cities. What types of projects? There are many three- to six-story, podium-style apartment buildings popping up all over the urban areas of Minneapolis-St. Paul. This product type can also be found in the suburbs. The first floor, or the podium, is constructed out of concrete and allows for up to five additional floors. This is very prevalent in our market and we don’t see this changing soon. However, advanced timber construction is just starting to show itself in the Twin Cities. The mid-rise and high-rise multifamily buildings are mostly contained to the urban core areas. These projects are all concrete construction. It took up until the last five years or so to see major grocers occupy the first floor. We have observed many examples of this and have worked with some of the large nationals as well as larger, local grocers. Mixed-use does not appear …
