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…
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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…
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…
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…
Top 6 Commercial Appraisal FAQ’s
So, you are getting ready to request an appraisal on a potential commercial property deal but have a few questions before you decide on what appraisal company to use. We’ve compiled the top six most frequently asked questions about our industry and appraisal reports so that you can navigate the appraisal world with ease. Let’s…
MINNEAPOLIS MULTI-FAMILY TRENDS – IMPACTS OF 2020
Simonson Appraisals had a unique opportunity to do a deep dive in 2020 to develop an understanding of the impact of multiple factors affecting the Minneapolis apartment market. Our firm appraised a portfolio of apartment buildings in the Loring Park neighborhood in March 2020 two weeks after COVID-19 was announced as a global health pandemic….
2020 Banking and Construction Lending Trends for Minnesota
On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. At Simonson Appraisals,…
Minneapolis/St. Paul – 2019-2020 Commercial Real Estate Value Trends
I attended the 2020 Minneapolis/St. Paul Commercial Real Estate Valuation and Appraisal Forecast Summit held at the Golden Valley Country Club on Friday, January 17, 2020. This year had a slight twist as I was invited to speak on the multi-family panel. Topics centered on valuation trends for the retail, industrial, office and multi-family property…
2019 Greater MN Apartment Trends
Over the past several weeks (August and part of September 2019), Simonson Appraisals appraised 20+ apartment buildings across Minneapolis/St. Paul and greater Minnesota as part of a single portfolio. Appraisal portfolio assignments are excellent projects as it allows us the time and resources to do a deeper dive into value trends impacting the property sector…