A Note from Mitchell Simonson, MAIAs we close out 2025, I want to thank our clients and professional partners for the trust you have placed in Simonson Appraisals throughout the year. The work we are entrusted to perform continues to increase in both volume and complexity, reinforcing the importance of disciplined methodology, clear communication, and…
Appraising Highway Right-of-Way Projects: Balancing Public Need with Property Owner Fairness
Over the last two years, Simonson Appraisals has completed multiple portfolio assignments for highway right-of-way (ROW) expansion and reconfiguration projects across Minnesota and North Dakota. These projects involved 20+ properties at a time, requiring consistent methodology, fast turnaround, and clear communication with engineering firms managing acquisitions on behalf of the state Departments of Transportation (DOTs). Our…
Case Study: Appraisal Helps in Significant Property Tax Savings Achieved for Full Service Hotel
Overview:Simonson Appraisals recently assisted in a property tax appeal involving a 200+ room full-service hotel in the Minneapolis/St. Paul metropolitan area. Our client was the property owner, who was represented by local property tax appeal attorneys. Simonson Appraisals conducted an appraisal report and was prepared to testify at trial. The case settled shortly before the…
MREJ Mid-Year Apartment Summit
Insights from the Simonson Appraisals Team Panel 1: Development in Minnesota The Itasca Project aims to add 18,000 new units annually to offset the slowdown from the Great Recession. In both 2024 and 2025, approximately 12,000 units are projected—about two-thirds of the target. Population growth in the Twin Cities has rebounded, with the region now…
Highlights from the 2025 Minnesota Real Estate Journal Apartment Summit!
Halle Hughes from our team gleaned the following insights from the Twin Cities Apartment Summit: Twin Cities DevelopmentUnit deliveries in the Twin Cities are forecasted to decline by 60% in 2025, falling from an average of 11,000 units per year to just 4,000. Notably, affordable housing will make up an estimated 40% of new construction,…
Year-End Gratitude & 2024 Accomplishments
2024 – A Year of Growth Thank you to all of our great clients and referral friends for your trust in using Simonson Appraisals as your commercial real estate appraisal and valuation partner. Your confidence in our expertise drives us to deliver excellence every day. 2024 Highlights: Major projects included: The attached chart summarizes the…
Downtown Minneapolis CRE Market Update
Downtown Minneapolis, despite current headlines in real estate and news articles, remains a major driver of our economy and state. We need a thriving downtown economic engine. It spills out into every aspect of the economy and beyond. With many great speakers, here are my top distinctions from the Downtown Minneapolis Summit hosted by the…
Helping Lenders Navigate the Commercial Real Estate Appraisal Process
As year-end is approaching, we reflect on the past year and look ahead to the future. We’re grateful to work across several states and with so many great clients! In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information…
Create More Impact, Fun and Time In Your Life!
In addition to being committed to the profession of appraising commercial real estate, our team is comprised of human beings seeking to continually improve across all facets of life. Whether its showing up as the best parent, partner or friend or striving to raise our standards of health and productivity, a steady commitment to constant…
Inflation, Interest Rates and Commercial Real Estate
With rising inflation and multiple interest rate increases in 2022, both are hot topics impacting the commercial real estate industry. We share our latest findings which help ensure we continue providing credible appraisals and valuations. Inflation and Interest Rates Inflation is running at more than a 40-year high with the July 2022 Consumer Price Index…