Ben Krsnak @benkrsnak
20+ years experience as Commercial real estate developer and operator in Minneapolis-St Paul | retail/office/industrial/hospitality hempelcompanies.com Minneapolis Joined April 2009-
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Fantastic news of a 45%+ increase in people in downtown Minneapolis during the most recent 12-monthly-period: the BEST recovery of any city in the nation. This is based on actual cell phone data, so is very reliable and not based on anecdotes (positive or negative).
Toured a food hall this weekend at Westroads Mall in Omaha (at about 3 pm so a little off peak). The taco truck was clever. Thoughts on the aesthetics?
Cities, counties, schools and churches are taking advantage (in a good way) the discounts available in real estate now for new facilities. It’s a smart move especially considering their long time horizons and availability of capital. I’m seeing it in real time.
Nina’s Coffee in Cathedral Hill in St Paul Minnesota. What a gem.
In retail, you can’t pay too much for a great location and you can’t pay little enough for a bad location.
Medical office building in St Paul Minnesota is going to auction. Starting bid is $2.50 per square foot.
Mixed use property is the biggest free lunch in real estate. Both uses generate more revenue and better user experience because of proximity to each other.
Working on building a coffee shop in one of our suburban office buildings. Which is the right motif?
Pleased to see one of restaurant tenants JK's Table featured in the Star Tribune today startribune.com/jks-table-edin…
Real estate development follows public infrastructure. A new park, school, boardwalk, plaza, transportation improvement, museum or stadium. It’s something most municipalities should be doubling down on right now. Especially downtowns.
Our JV with Centra Homes in Otsego is going well. 2 built and sale pending with 3 foundations in for the next round. And ready to pour a few more foundations in the next couple of weeks.
Renderings of the new steakhouse opening at West End in St Louis Park called Boketto
This 2,000 square foot former bakery in St Paul off of I-94 is available for only $50K. Apparently needs some extensive renovations.
Photos of our most recent acquisition the Loews soon to be The Lofton Hotel - a Hilton Tapestry collection - in Downtown Minneapolis.
We just acquired the Loews Hotel in Downtown Minneapolis. Rebranded as the Lofton Hotel and flagged as a Hilton Tapestry. Look for refreshed rooms and reinvigorated F&B. Located next to the Target Center…. Go Wolves!
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@benkrsnak I think a very savy developer should start or acquire a local bakery/cafe with its own brand to open a cafe in their developments to essentially subsidize their developments. I get multiple calls from CME brokers every week with spaces that owners want to see a cafe open.
The future of real estate investing in the Twin Cities looks promising. Not only is it recognized as a vibrant cultural hub in the Midwest but there are several compelling factors that make it the optimal place to invest in real estate: 🔹 Economic Vitality: The area is home…
How cheap are obsolete office buildings selling for? A developer paid only $4M for this 330k sf building in Minneapolis. Sherman Associates is midway through their redevelopment, converting it into 216 apartments. Their total expected project cost is $92M.
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@benkrsnak Yamasaki’s Northwestern Mutual Building should be an art museum
fairgrounds in minneapolis has better vibes than the seldom shops here, ironically coffee is good though
The 80s were wild for downtown real estate. That's when the Curtis Hotel and Hotel Leamington were torn down to build a low-rise office building and a parking ramp
@benkrsnak Amazing, we are moving into downtown and are exciting for the new focus coming into the city center.
@benkrsnak @DowntownVoices_ That dining room is so gorgeous