User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


64° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Retail Rules

February 28, 2014, 10:10 PM by Angela Kennecke

Retail Rules
SIOUX FALLS, SD -

If retail is the name of the game, Sioux Falls is in it to win.  After seeing big retail projects in 2013, 2014 is predicted to ultimately bring in even more money in new retail construction. 

From big box stores to new restaurants, Sioux Falls continues to attract new retailers to the city. Plus, current brands already here are expected to expand.

"Some will be second stores or third stores. A lot of those franchise agreements, they have to open a certain amount of stores in a certain amount of time," Reggie Kuipers, Real Estate Broker with Bender Commercial, said.

Real Estate Company Bender Commercial takes the pulse of the city's development every year in its Market Outlook. 
This year retail is one of the shining stars. 

"With all the land that was sold last year, all the retail land, I think we're going to see a retail boom in construction this year," Kuipers said.

Bender Commercial predicts retail construction values to top last year's record of $40 million dollars. And it's expected to go in every direction in the city. 

With vacancy rates low and rent high, we could see more speculative commercial construction, like the Remington Pointe Strip Mall at 69th and Western. 

If the proposed Walmart goes in at 85th and Minnesota, there are four tenants poised to go into a strip mall near the big box store. 

Then there's more redevelopment expected, like this strip mall near the mall. 

"And there are some dilapidated properties along Minnesota Avenue that are ripe for redevelopment; so I would look for some of those retailers to push toward the center of the city,"

The most common question commercial brokers get is--when will Sioux Falls get a Cheesecake Factory or P.F. Chang's?

"I think their population base is about 750,000, so it will take a while. Now they do have some sister companies that could come that are similar concepts. They may be in play for the next 12 to 24 months. I'm not working with them, so I don't know. 

Bender Commercial says the public can expect to start hearing retailers announce as construction season nears.

Bender Commercial says the office market is as tight as it's been in the 17 years since it's conducted the survey. It expects some speculative office buildings to go up in the next year as well.

Bender Commercial Bender Commercial Bender Commercial Bender Commercial
Photo Credit:
Photo Gallery:

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View business

You may also like

Two KELOLAND Target Stores Now Open Extended Hours

8/19/2014 12:16 PM

Night owls who enjoy shopping at Target will soon have a few more hours to browse the shelves.

Full Story
SF Food Scene Gets Some National Attention

8/15/2014 8:14 PM

Sioux Falls' local flavor is getting national attention.

Full Story
Raven Balloons In Demand By Google

8/20/2014 9:10 AM

Raven Industries reports that sales for the second quarter are up to $94.5 million from $93.4 million the same time last year, due in part to Google&#...

Full Story
Sioux Falls Store Included In UPS Breach

8/21/2014 1:53 PM

If you used a credit or debit card at a UPS Store in the last seven months, some of your personal information could be a risk.  

Full Story
New CEO Of Idled Aberdeen Beef Plant Optimistic

8/17/2014 3:45 PM

The new CEO of a beef plant that has sat idle in Aberdeen since 2012 is optimistic about the facility's future.

Full Story


Events