Over the past 12 months, I have appraised numerous outstate Minnesota apartments ranging in size from about 20 to 150 units. The geographic region has spanned the “banana belt” surrounding the Minneapolis/St. Paul metropolitan area. The primary cities forming the “banana belt” include Rochester, Mankato, St. Cloud and Duluth. This allows us to complete in-depth…
Minneapolis/St. Paul – 2017 Commercial Real Estate Trends and Expectations
I attended the 2017 Minneapolis/St. Paul Commercial Real Estate Valuation and Appraisal Forecast Summit held at the Golden Valley Country Club on Friday, January 20, 2017. Topics centered on valuation trends for the retail, industrial, office and multi-family property sectors. This article looks back on some key highlights from 2016 and expectations in 2017. My…
SBA Lending and Appraisal Insights
I recently taught a workshop titled Navigating the Appraisal Process at the 4th Annual SBA Lender Conference in Minnesota. Continuing the theme from last month, this article highlights some key terms and thoughts about going concern value and specific U.S. Small Business Administration business and real estate appraisal requirements. I presented some ideas to help lenders, banks reviewers…
Helping Lenders Navigate the Commercial Real Estate Appraisal Process
In September 2016, I participated in the 4th Annual SBA Lenders Conference at Marriott Minneapolis Northwest, Brooklyn Park, Minnesota. I was a speaker at the SBA Lenders Conference and my presentation was titled “Navigating the Appraisal Process” on September 8, 2016. Having worked with several different lending institutions completing appraisals for SBA financing, I presented some ideas…
Outstate Minnesota Retail Market Trends
It’s hard to believe the end of summer is quickly approaching. We’ve been having a great time this summer working on some fun projects with excellent clients. However, as the saying goes, “all work and no play make Jack or Jill a dull boy or girl!” We’ve also been able to slip away and enjoy…
4 Things to Know – Evolution of Minneapolis Office Market
I attended the June 14, 2016 NAIOP MN breakfast event. The topic was “The Evolution in Minneapolis Office Investment and Leasing.” The main discussion points included real estate taxes, parking trends, Wired Score, a new technology rating system and amenities cluster. Click the link below for a quick video summary of of the latest evolving…
Four Ways Appraisers Can Help Their Client
I believe it’s important for appraisers to communicate with their clients to avoid surprises and ensure the appraisal process is as smooth as possible. My core passion is transparency and helping our clients make sound investment decisions and solve real estate problems to achieve their financial and business goals. There are a few ways appraisers…
Williston, ND Industrial Real Estate Trends
Williston, North Dakota Industrial Market – April 2016 Photo is overlooking Williston, ND, taken by Mitchell Simonson, MAI Historically, the Williston Micropolitan Area industrial market has not been formally recorded by an organization or institution because of its location and market size. The Williston market area, located in the center of the Bakken Oil Reserve has…
Property Value and Energy Efficiency
Could changing light fixtures impact property value? This month, I had the opportunity to sit down with Noble Conservation Solutions, a Turn-key Strategic Partner for Integrated Energy Efficiency Improvements and Services. NCS is headquartered in Plymouth, Minnesota and provides turn-key projects in all 50 states, including: lighting design, tax credit certification, rebate administration, installation and…
2016 Outstate MN – Apartment Trends & Expectations
Photo taken of recent new construction in Detroit Lake, MN by Mitchell Simonson, MAI Outstate MN – 2016 Apartment Trends & Expectations In the past 12 to 24 months, I have appraised numerous outstate Minnesota apartments ranging in size from about 20 to 100 units. The geographic region has spanned the “banana belt” surrounding the Minneapolis/St….