The Minneapolis-St. Paul Industrial market remains hot, although evidence of a cool down has begun to emerge. Positive trends include net absorption reaching 2.2 million SF further reducing vacancy to new historic lows. New construction and deliveries were also up from the previous quarter with supply still significantly trailing demand. Speculative development continues apace with the Northwest submarket benefitting from the most new space to come online in Q1. On the other hand, a rising interest rate environment, the highest inflation in more than 40 years, surging commodity prices, including oil, and the war in Ukraine, among other factors, have coalesced to weigh on pricing in the industrial investment sales sector.
Managing Director/Market Leader
Minneapolis - St. Paul
I began my career as on Active Duty in the United States Army (2006-2011). I spent nearly five years as a Judge Advocate General (attorney), an experience that was highlighted by a deployment to Iraq in 2008. I also spent time practicing as a Tax Attorney, Contract & Fiscal Law Attorney, Administrative Attorney and completed my tenure in the Army as a prosecutor.
Over the past 8 years, while with Ryan Companies (2011 - 2015) followed by Mortenson Development, Inc. (2015 - 2019), I supported and then led a number of developments across the Twin Cities and Greater Minnesota. The seminal achievement of my development career was leading the development of One Discovery Square, the first phase of a Life Science district in Rochester, Minnesota, which was done in collaboration with Mayo Clinic, the University of Minnesota Rochester, Epic Medical Records, and a variety of other commercial partners. The District is described as the economic engine of the Destination Medical Center, a $585M public-private partnership -- the largest such partnership in Minnesota's history.
I employ a people-first, servant-leader approach. I believe in the value of collaboration and strong teams, in peer accountability, and in the power of leveraging insight to the benefit of our client's businesses.