Archive for April, 2011
Get Your Hands Off My Condemnation Award
By Christopher Huntley, Attorney
Often when I am negotiating a lease I see a tenant or its representative skip over the condemnation provisions in the lease form as they deem these provisions as superfluous boilerplate. The prevailing view is that these provisions will never affect the tenant’s rights as the tenant does not own the fee title to the property and the chance that the property will be condemned is so remote that there is no use worrying about a condemnation during the lease term. A tenant may find that when it receives notice of a taking of its premises, it will need to find a new premises and it will not be reimbursed for its moving expenses, loss of business or, most importantly, the thousands of dollars’ worth of tenant improvements that it put into its premises possibly only a few months ago. Tenants should be aware of what they are getting into prior to agreeing to spend a substantial sum of money in tenant improvements, and they should properly structure their leases so as to preserve any rights they may have. (more…)
Minnesota Organizations Push for Transparency in Government Spending
NAIOP Minnesota, the Minnesota Taxpayers Association, and the Minnesota Chamber of Commerce plan to draft legislation requiring all government entities to use the same structure to report how they budget and then spend taxpayer dollars.
Twin Cities Business, April 19, 2011
Read more.
NAIOP introduces OpenGovernmentMN.com
OpenGovernmentMN.com has been established as an online resource and central repository of research, news and other information useful in informing Minnesota taxpayers and encouraging public debate and involvement.
Q: What does greater transparency in government spending have to do with property taxes?
A: Everything!
It’s time to unveil the drivers behind the rising cost of public services and the demand for increasing local tax revenues.
Read more.
Transparency Proposal Talking Points for NAIOP members
Transparency Proposal FAQ
Transparency Proposal Press Release, Initiative to Spur Greater Transparency in Local Government Spending Launched by NAIOP Minnesota
Ultimately local government spending drives property tax levies and, in turn, property taxpayers’ bills. This is the most influential piece of the property tax system. It is also the most important and—in many ways—the most challenging element for taxpayers to understand.
Commercial Real Estate Radio Show Launched by Welsh Brokers
Peter Mork and Jason Simek, two Welsh Companies brokers, have teamed up to launch a bi-weekly commercial real estate radio show entitled “All Things Real Estate.” The show runs every other Sunday morning 8 to 9 am on KTLK-FM 100.3. Their own custom website gives an internet presence that backs up their prowess on the airwaves. Their last program, on April 4th, was called “Commercial Real Estate FAQs” and can be heard by clicking here.
Their next commercial segment airs April 17th and will feature an exclusive interview with Bob Lux, Principal of Alatus LLC, discussing his redevelopment plans of the famous Block E project in Downtown Minneapolis. Be sure to turn your radio to 100.3 FM at 8am on the 17th to hear Peter, Jason, and this exclusive interview.
Read more more about their show in an article from the Business Journal.
Opus Cup Supports Catalyst Community Partners
Join us for the 12th Annual Opus Cup on Wednesday, May 11th, from 3:30-5:30 pm at Braemar Ice Arena in Edina. Admission is free! Bring your friends, family and co-workers and cheer on your local industry brokers as Team Lau tries to defend the title against Team Jet. Test your skills at “Chuck-a-Puck”, sponsored by BDH & Young Space Design, or try your luck for a chance to play “Skill Shot.” You can also enter to win the Grand Prize drawing, a pair of Champion’s Club Twins tickets. Enjoy free refreshments and snacks during the game. Don’t miss out! All proceeds will be donated to Catalyst Community Partners. For more information, please contact Kristin Weise at 952-656-4781 or kristin.weise@opus-group.com.
Report finds the cost of providing government services should be reformed
The research provided in NAIOP’s Compensation report is presented by the Minnesota Taxpayers Association (Aaron Twait) at a forum organized by the Willmar Chamber of Commerce. “This is not a public employee bashing exercise”, said Twait, as a preface to his summary of the study, which was funded by the Minnesota Chamber of Commerce and NAIOP Minnesota, the commercial real estate development association. But Twait said fringe benefits, like public pensions and health benefits that have “exploded” in the past decade need to be reformed.
Published in the West Central Tribune on Saturday, April 2, 2011.
CSM Equities, L.L.C. Inks Deal with Lockheed Martin Corporation
CSM to acquire Eagan facility for redevelopment
CSM Equities, L.L.C., an affiliate of Minneapolis based CSM Corporation, announced that it has entered into a sale and leaseback agreement for the 51.15 acre Lockheed Martin facility, located at 3333 Pilot Knob Road, in Eagan. The sale portion of the transaction is expected to close in the summer of 2011 with Lockheed Martin continuing to occupy the space under a lease agreement until the final consolidation and transition of its operations in the spring of 2013. (more…)
