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17RAFT Market Analysis <br />Lino Lakes Comprehensive Plan Update <br />September 2006 <br />Page 18 <br />Wholesale Trade <br />8,204 <br />3% <br />er Svcs <br />12,589 <br />5% <br />Const. <br />13,460 <br />5% <br />Fin. /hsur. /RE <br />14,587 <br />Trans. /Conn. /Util. <br />19,403 <br />8% <br />Retail Trade <br />22,626 <br />9% <br />Hospitality <br />27,541 <br />11% <br />Manufacturing <br />1,134 0% <br />Projected Employment <br />Growth by Sector <br />7- County Twin Cities Region <br />2002 -2012 <br />Education /Health <br />70,255 <br />26% <br />Prof. /Bus. Svcs. <br />61,424 <br />24% <br />Source: M innesota Department of Economic Development <br />GROWTH CHARACTERISTICS OF THE NORTHEAST METRO RELATED TO <br />COMMMIERCIAL /INDUSTRIAL DEVELOPMENT" <br />Office and Industrial Space Absorption (Multi- Tenant Space) 1998 -2005 <br />Absorption of commercial and industrial space has been slow over the last seven years in the <br />northern portion of the metro area. The chart below shows that the amount of space absorbed has <br />been relatively flat for each property type with the exception office space, which has seen a nearly <br />50% increase in the amount occupied space. Compared to the remainder of the metro area, <br />however, the amount of office space in the northern metro is minimal. Therefore, even modest <br />increases in the amount of office space appear as large percentage increases. <br />Another important point that the chart displays is how much office /warehouse space dominates the <br />market in the northern metro. Even if one were to add together office, office /showroom, and bulk <br />warehouse space, it would not add up to office /warehouse space. <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />