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The hottest slice of Twin Cities real estate probably isn't what you think
['Jim Buchta', 'Jim.Buchta Startribune.Com', 'Renée Jones Schneider']
Star Tribune
During the first half of the year, only 145,200 square feet of retail space, mostly strip centers and free-standing buildings, has been completed, according to a second-quarter report from Colliers.
"No one is building vacant retail space right now," said said Ted Gonsior, managing director/market lead at JLL.
Across the metro, the retail vacancy in the metro at the end of June was 5.8%, according to Colliers, which tracks large retail buildings (not including large shopping malls).
General retail, which includes freestanding, street front-style retail spaces and accounts for roughly 60% of the total inventory, had the lowest vacancy rate at just 1.1%.
Though it's not in a traditional retail building, Nylin's shop has big windows, plenty of parking and an exterior door that opens onto a courtyard.