Kelly Busche
@KellyBusche
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Former senior reporter & broadcaster with @MSPBJnews | MN Newspaper Association’s New Journalist recipient, 2020 | opinions = mine
Seattle, WA
Joined June 2012
NEW: @MSPBJnews spent months analyzing downtown Minneapolis office space post-pandemic. Bottom line? The need for less space is hurting building valuations & finances. This means buildings will produce less property tax revenue the city depends upon.🧵1/9 https://t.co/qDYBIoUgkT
bizjournals.com
The Covid-19 pandemic has drastically changed the commercial real estate industry in the Twin Cities. We take an in-depth look into 14 Minneapolis office buildings and how their combined market value...
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Wells Fargo is selling its Minneapolis Home Mortgage office campus as it scales back its local real estate holdings. The bank is consolidating local office employees to three locations: two in downtown Mpls & one in Shoreview. Reporting w/ @keithsch94
https://t.co/ZP8AktCPEf
bizjournals.com
Wells Fargo is moving out of and selling its large campus in the Phillips neighborhood of Minneapolis as the bank evaluates employees and office space needs.
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The IDS Center's owner is facing a May 1 deadline to repay a more than $154 million mortgage balance on the iconic downtown Minneapolis office tower, according to financial filings. https://t.co/Xy4ugxO3hz
bizjournals.com
The owner of downtown Minneapolis' IDS Center, Accesso Partners, is working with a lender to refinance the property ahead of the May 1 due date.
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EXCLUSIVE: UnitedHealth Group Inc.’s (NYSE: UNH) headquarters building in Minnetonka is on the market, either for sale or lease. In a statement, UnitedHealth said, "Minnesota remains our home." https://t.co/pSGH81ttYU
bizjournals.com
In a statement, UnitedHealth said "Minnesota remains our home."
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EXCLUSIVE: UnitedHealth Group Inc.’s (NYSE: UNH) headquarters building in Minnetonka is on the market, either for sale or lease. In a statement, UnitedHealth said, "Minnesota remains our home." https://t.co/pSGH81ttYU
bizjournals.com
In a statement, UnitedHealth said "Minnesota remains our home."
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Across the street from Macy's, Orion Investments is planning a new upscale hotel with ~150 rooms, destination restaurant & rooftop bar. (2/2) https://t.co/yz6u78uuIK
bizjournals.com
The boutique-inspired hotel will have up to 150 rooms along with a ballroom, corporate meeting rooms, destination restaurant on its ground-floor and a rooftop bar.
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Two major Edina stories for you: Enclave Cos. wants to tear down the Macy's Furniture store and construct two office buildings & two apartment buildings on the site. (1/2) https://t.co/G2JWPBc9gu
bizjournals.com
West Fargo-based Enclave Cos. has plans to buy the Macy's Furniture store property in Edina and redevelop it into a mixed-use site.
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The new owner is Wells Fargo Bank, which placed the only bid on the downtown Minneapolis hotel during today's auction. https://t.co/oG9QeXbJhN
bizjournals.com
The new owner of the hotel is Wells Fargo Bank, which placed the only bid on the downtown Minneapolis hotel.
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The historic Minneapolis venue will begin welcoming guests to live shows in May.
bizjournals.com
The Uptown Theater will hold its first event May 5, with five public events on the schedule already.
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Big scoop from @KellyBusche on the difficult financial state of St. Cloud's biggest shopping mall.
Brookfield Properties, the owner of Crossroads Center, faces a looming deadline to repay a more than $83 million mortgage balance on the shopping mall.
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I visited multiple downtown Caribou Coffee locations today and talked to employees about planned closures. Some told me they were informed a few days ago that the shops where they work will close in March. https://t.co/Pe7XVXoV62
bizjournals.com
Caribou Coffee is significantly shrinking its footprint in downtown Minneapolis.
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My dispatch from the Minneapolis Downtown Council's annual meeting: Downtown's population grew by 1% last year – a lower rate of growth than seen in previous years. Still, optimism abounds with rising office activity & new construction permits. https://t.co/TroFNUWL7G
bizjournals.com
Downtown Minneapolis has made several steps forward in its post-pandemic recovery, but the rate of population growth slowed in 2022, according to a presentation by the Minneapolis Downtown Council.
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In December, @briannarkelly and @KellyBusche asked, "What's up with all the half-built Amazon Fresh stores?" https://t.co/izqL3QYZlf Amazon didn't comment about the apparent holdup then, but now they have via @MSPBJnews
bizjournals.com
The list of suspected Amazon Fresh stores planned in the Twin Cities has grown since late 2020 — but none of them have opened their doors. Landlords and local officials say they're in the dark, too.
Amazon will pause its rollout of new Fresh stores as it seeks "differentiation and economic value that we like," its CEO said. There are at least a half-dozen potential Amazon Fresh locations in the works around the Twin Cities.
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Two of the longest-standing retailers in downtown Minneapolis see safety and foot traffic, which impact sales, as the biggest issues facing stores.
bizjournals.com
Two of the longest-standing retailers see safety and traffic, which impacts sales, as the biggest issues facing stores. But what does the data say?
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Today's scheduled foreclosure auction of the Hilton Minneapolis was postponed, which, according to a source, is a common occurrence with sheriff's sales https://t.co/bbmuGnxpud
bizjournals.com
The 826-room hotel was scheduled to be sold at auction Friday morning at the Hennepin County Sheriff's Office. There's no word on a new scheduled date.
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Exclusive: Thomson Reuters has decided to market a sizable portion of its 263-acre Eagan office campus for sale and is now on the hunt for a new office in the Twin Cities. https://t.co/7FTqXUwKYi
bizjournals.com
Thomson Reuters is now on the hunt for a new office in the Twin Cities.
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Parking meter activity downtown has not quite rebounded from the pandemic, but some neighborhoods are much farther to recovery than others.
bizjournals.com
Parking meter activity downtown has not quite rebounded from the pandemic, but some neighborhoods are much farther to recovery than others.
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.@briannarkelly & I followed up on the Twin Cities' seven potential Amazon Fresh stores, finding that city officials are in the dark about their status and projected opening dates. https://t.co/eERRwCOQVX
bizjournals.com
The list of suspected Amazon Fresh stores planned in the Twin Cities has grown since late 2020 — but none of them have opened their doors. Landlords and local officials say they're in the dark, too.
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Piper Sandler & Co., which at one point was thought to be leaving downtown, just signed a 113k SF lease for the new North Loop Green that's going up next to Target Field https://t.co/Gp2jl1TTTV
bizjournals.com
Piper Sandler plans to leave the downtown core — but it's not leaving Minneapolis, instead signing a lease for a new, mixed-use development near Target Field.
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Redevelopment may finally happen for several vacant Sears stores in the metro, including the St. Paul store (next to the Capitol) & those at Maplewood Mall and Burnsville Center https://t.co/58jHlZFgJa
bizjournals.com
The three properties could eventually be home to multifamily, retail, commercial, medical or hospitality uses, according to Colliers. Colliers’ Minneapolis and New York offices have the listings.
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Marshalls plans to close its downtown Minneapolis store in mid-January, on the heels of Nordstrom Rack's exit.
bizjournals.com
A company spokesperson says the store — one of the last big apparel retailers in downtown — is expected to close Jan. 14.
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