SIOUX FALLS, S.D. (KELO) — Sioux Falls is expecting another big year of growth in 2020 according to Bender Commercial Real Estate’s 23rd Annual Market outlook.
The annual economic report highlights some of the current and expected trends in development and business in the Sioux Falls community each year.
“In 2015, that was the highest traffic count out of anywhere in the city of Sioux Falls, if you fast forward to 2019, it’s not even in the top 10,” Bender Retail Sales and Leasing expert Rob Kurtenbach said.
From a drop in traffic counts along 41st Street….
“With the limited amount of sewer ability, we’ll see limited growth in west Sioux Falls, but the City of Sioux Falls is in the planning stages of looking at a westside trunk line,” Bender Land Sales expert Bradyn Neises said.
To the continued outward expansion of the city…
“What you’re seeing is debt is so cheap, that debt is cheaper than equity, so you’re seeing more and more debt being placed on real estate and less equity,” Bender Commercial Real Estate founder Michael Bender said.
Bender Commercial Real Estate’s Market Outlook offers the local business community a lot of takeaways on the local economy.
“It’s interesting to see the parts of town that grow,” Adam Walsh said.
Walsh with Metabank in Sioux Falls attends the Market Outlook each year to see how his business may be impacted.
“With me doing business banking, I come away with just knowing that there’s a lot of activity out there and a lot of prospecting and a lot of good deals to be had,” Walsh said.
“Most businesses want to know how it affects their business, if they’re an industrial tenant, they want to know about the industrial trends, not necessarily the rental rate, they want to know more the trend,” Bender said.
The fast paced presentation focuses on the over all economy and then details on specific trends in investment properties, office, industrial, land and retail.
“I think Sioux Falls is really on the cusp of seeing a lot more national retailers announce that they’re coming to Sioux Falls. We’re rising demographically and that’s great, that’s what retailers want to see,” Bender said.
There were dozens of interesting business trends revealed during the Market Outlook presentation. KELOLAND News will features some of those takeaways in detail over the coming weeks on Your Money Matters.