©2023 Real Estate Publishing Corporation May 2023 • VOL. 39 NO. 2
2023 Minnesota Real Estate Journal Awards Section Pg. 11
Challenges? Sure. But Twin Cities industrial market still holding its own By Dan Rafter, Editor
I
t’s true: These are challenging times for all commercial real estate sectors, including that long-time darling of investors, industrial. High interest rates, an uncertain economy rocked by the failures of four large banks and continued supply chain delays have made selling and building industrial properties more difficult.
But industrial remains one of the strongest commercial real estate sectors even with these challenges. And the industrial sector is still healthy in the Twin Cities region, thanks to demand that outpaces the supply of industrial space.
And the best news? Two local industrial experts told Minnesota Real Estate Journal that they expect the industrial market to weather the challenges of higher rates and economic certainty. That bodes well for the sector. INDUSTRIAL (continued on page 7)
A time of change: Healthcare providers still working hard to meet their patients’ changing demands By Dan Rafter, Editor
M
edical providers today are firmly in expansion mode, looking for new outposts to set up freestanding medical clinics, ambulatory surgery centers and specialty practices far from their main hospital campuses.
At the same time, they are struggling to rebuild their cash flows after the challenges of the COVID-19 pandemic. Many face a labor shortage as the country deals with a shortage of nurses and doctors. And the competition for patient dollars is only increasing.
It all adds up to interesting, and challenging, times for the real estate companies that help these providers find and sell their medical space. HEALTHCARE (continued on page 8)