HomeMy WebLinkAbout2013.10.08 EDA Packet AGENDA
CITY OF HUGO
ECONOMIC DEVELOPMENT AUTHORITY
TUESDAY, OCTOBER 8, 2013
5:00 PM
5:00 pm 1. Call to Order
5:01 pm 2. Roll Call
5:02 pm 3. Approval of Minutes
EDA Meeting of September 10,2013
5:05 pm 4. Discussion on Marketing RFQ Proposals
5:45 pm 5. Update on Washington County Economic Development
Workgroup
6:00 pm 6. Update on Downtown Redevelopment
6:30 pm 7. Adjournment
*** HBA Business Networking Breakfast, Wednesday, October 30, 2013, at 7:30 am at
Sal's Angus Grill
BACKGROUND MEMO FOR THE EDA MEETING OF
TUESDAY, OCTOBER 8, 2013
3. APPROVAL OF MINUTES
Staff recommends approval of the minutes from the September 10, 2013, EDA Meeting
as presented.
4. DISCUSSION ON MARKETING RFQ PROPOSALS
There were four responses to the RFQ that went out in late August. Included in your
packet are the proposals and staff will present them to the EDA. Staff recommends the
EDA discuss each proposal and provide staff with direction on how to move forward.
5. UPDATE ON WASHINGTON COUNTY ECONOMIC DEVELOPMENT PLAN
Staff will update the EDA on the progress of the Washington County Economic
Development Plan.
6. UPDATE ON DOWNTOWN REDEVELOPMENT
Staff will update the EDA on downtown redevelopment.
MINUTES FOR THE EDA MEETING OF SEPTEMBER 10, 2013
Klein called the meeting to order at 5:15 pm.
PRESENT: Arcand, Bever, Denaway, Gallivan, Klein, and Weidt
ABSENT: Puleo
STAFF: Bryan Bear, City Administrator
Rachel Juba, Planner
Eric Maass, Community Development Intern
APPROVAL OF MINUTES FOR THE EDA MEETING OF AUGUST 13, 2013
Denaway made motion, Gallivan seconded, to approve minutes for the EDA meeting of
August 13, 2013.
All ayes. Motion carried.
GUSSET DESIGN
EDA invited Craig Benson, the new owner of Gusset Design to attend the EDA meeting
to welcome him to the town and have him speak about his plans with his newly acquired
business. Craig informed the EDA of his business and military past which had prepared
him for the challenges he has and will encounter with the running of his new business.
Craig stated his primary.strength lied with his sales experience which he planned to use
to help the business reach its goal of increased productivity and job growth. He also
outlined that the current business infrastructure could handle five times its current
capacity which will allow him to grow into his business rather than needing immediate
expansion. Craig was very excited for the opportunity to speak with the EDA, and
invited all of them to stop by his business at any time for a tour of his operation. Craig
looks forward to having his business play a larger role in the community for years to
come. The EDA welcomed Craig to the City of Hugo.
UPDATE ON MARKETING RFO
Staff informed the EDA that they had been receiving inquiries from commercial
marketing agencies about the RFQ for marketing the city owned land adjacent to Egg
Lake. Staff informed the EDA that they will have all RFQ submittals by the next
meeting and would provide them with the submissions at that time.
UPDATE ON MAXFIELD RESEARCH STUDY
Staff informed the EDA that the city has entered into an agreement with Maxfield, and
that we should receive the completed study 90 days from the date of the entered
agreement. Rachel stated she would keep EDA informed as new information came
available.
UPDATE ON WASHINGTON COUNTY ECONOMIC DEVELOPMENT
WORKGROUP
Staff informed the EDA that the workgroup had selected Springsted as the economic
development consultant. During the meeting on Monday, September 9 Springsted staff
outlined their plans for compiling dates for the study, and how they would be
collaborating with the workgroup in the coming months ensuring completion of the
study.
UPDATE ON DOWNTOWN REDEVELOPMENT
Staff met with a developer looking to develop parcels across from Lions Park. The
development would consist of Senior Living facilities including memory care, assisted
living, and independent living. A later phase of the development would include market
rate rental housing.
Staff continues to meet with Pete Sampair on the redevelopment of his property.
Staff met with Premier Banks to speak with them about their land holdings within the city
and potential for the future development of those parcels.
ADJOURNMENT
Denaway made a motion, seconded by Puleo, to adjourn at 6:20 pm.
All ayes. Motion carried.
Request for Qualifications (RFQ)
for a Commercial Realtor
to Market City Owned Property
in Downtown Hugo, Minnesota
Proposals Due: September 30, 2013
Location: Hugo City Hall
14669 Fitzgerald Ave N
Hugo, MN 55038
I. Purpose of the Request
The Hugo Economic Development Authority (EDA) is requesting qualification from
commercial realtors to market City owned property in downtown Hugo. The property is
zoned for commercial development and guided for mix-use development. The EDA and
Hugo community has a high desire for a restaurant in downtown.
II. Introduction
The City of Hugo is a rapidly growing suburb located 20 minutes north of St. Paul with a
population of close to 14,000 residents. The Minneapolis/St. Paul Business Journal named
Hugo as the fastest growing City in Minnesota in 2011 and third in 2013. The key factors
driving this growth are the availability of undeveloped land and the close proximity of
Hugo to major freeways and downtown St. Paul.
Most recently, the City has been focusing on economic development opportunities in
several commercial and industrial areas. These areas include the Bald Eagle Industrial
Park, Downtown, CSAH 8 corridor, and the Peloquin Industrial Park. In 2012, the City
earned an international award of excellence for its Business Retention and Expansion
Program which the City completed through the University of Minnesota in 2010. In
addition to retaining and expanding existing businesses, the City of Hugo has been actively
involved in locating new businesses.
a. Downtown Redevelopment
In 2007, the City Council adopted a Downtown Master Plan and Downtown Design
Guidelines. The goal of the Downtown Master Plan is to strengthen the commercial and
service core of the City.
While the core downtown is focused along Forest Boulevard (TH 61) from County Road
8 to 1471h Street, the Downtown Plan extends north to the Post Office and 150th Street,
south to 140th Street, and from the shores of Egg Lake on the east to the bend in County
Road 8 to the west.
The downtown is located within a Tax Increment Financing (TIF) District. The City
Council has made it a priority and a goal to focus marketing efforts on downtown
redevelopment.
b. Description of Site
The site consists of several vacant parcels totaling 4.19 acres in size. The site is located
along Egg Lake and abuts TH 61 with direct access to the highway. The property is
zoned Central Business (C-1) which encourages the establishment of a downtown
2
atmosphere with a blend of cultural, recreational, civic, entertainment, retail sales, and
office uses.
III. Goals of the RFQ
This RFQ is designed to provide interested respondents with basic information to submit a
proposal that will meet the purpose, qualifications, and desires of the project. It is not
intended to limit request content or exclude any relevant information. Respondents are
encouraged to expand upon the minimum requirements of the RFQ.
IV. Realtor Qualifications
a. Shall be licensed and in good standing with the State of Minnesota.
b. Shall have an excellent reputation in the commercial real estate community.
c. Shall be knowledgeable in the local real estate market.
1. Desired Realtor Commitment/Contributions
a. Understand the Downtown Master Plan and Design Guidelines.
b. Demonstrate the expertise necessary to market commercial property.
c. Demonstrate experience in Restaurant real estate transactions.
d. Develop a strategic marketing plan for the sale of the property.
e. Provide summaries of contacts that have been made throughout marketing process.
f. Provide suggestions on how the property could be more marketable.
V. Submittal Requirements
A complete submittal shall contain the following:
1. A cover letter summarizing the offer being proposed and the realtor's level of
understanding of the request and commitment desired.
2. Specific details of the proposed services and qualifications:
a. Proposed commission.
b. A list of publications or websites in which the property would be listed.
c. A detailed description of experience marketing vacant commercial property
i. A list of at least three references of the sale of comparable properties
sold.
ii. Experience with locating a restaurant on a vacant site in the last 5
years.
d. A statement of qualifications
3
e. Description of basic marketing plan that could be used for the property
VI. RFQ Schedule and City Contact
All proposals shall be received no later than 4:00 PM, September 5, 2013. Fifteen copies of
the proposals shall be provided.
The City will review the proposals and schedule interviews within 30 days of the submittal.
All proposals shall be sent and all questions and correspondence should be directed to:
City of Hugo
Att: Rachel Juba, Planner
14669 Fitzgerald Ave N
Hugo, MN 55038
(651) 762-6304
rjuba@ci.hugo.mn.us
Attachments: Site Base Map &Contextual Site Base Map
4
Site Map RFQ City Owned Property
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William Lentsch
651-216-4253
Bill Lentsch, Development/Real Estate Services Director, has more than
Experience 25 years of experience in Real Estate Sales. He has been involved in land
development, office and retail development, and residential construction with
an emphasis in contracts. Prior to joining Partnership Investment Group,
LLC, Bill served as project manager for Caitlin Partners, LLC, overseeing
residential property development in the Twin Cities and president of Cities
Title Services, LLC-a full service title company. Partnership Investment
Group's Development&Construction Management Department is
responsible for facility location, governmental approval, overseeing architects
and general contractors, preparing recommendation reports for acquisitions,
providing the purchasing function through negotiation, consultation, and
recommendation on new construction and development projects.
2011-6/01/13 K W Commercial
Director of Sales Vadnais Heights and Forest Lake, MN.
2009-2011 Combs Real Estate Services, LLC
Leasing agent Stillwater Mills.
2002-2008 Cities Title Services, LLC
Owner/President
■ 2002-Started as closing company for 3 large title companies
■ 2003-Became licensed title agent for Land America Commonwealth in MN
&WI
■ Full Service Escrow&Closing Agent
■ In House Recording Service
■ Funding Dept.
■ Final Policy Dept.
■ 4 Full Time Closers
■ Offices-1 in Minnesota
2000-2002
General Contractor/Builder Share-N-Homes, Inc.
1996-2000
Mortgage Broker/American Residential Mortgage
1992-1996
Real Estate Developer/Catlin Partners, Inc.
1984—Present
Licensed Real Estate Agent-Wl/Broker-MN
1974-1984
Construction/Property Management/Circle Services, Inc.
Education 1970-1974 St. Thomas Academy
References
Cities Title Services, LLC
Toni Shearen
2732 Co Rd DE
White Bear Lake, MN 55110
Phone-651-779-0422
Fax-651-779-0612
Smith Schafer&Associates, Ltd.
Bill Frudden, CPA
6800 France Ave, Ste 555
Edina, MN 55435
P(952)920-1455
F(952)920-6603
Northview Bank
Ron Carlson-Vice President
2203 Finland Avenue
PO Box 257
Finlayson, MN 55735
P (320)233-7575
F(320)233-6335
Rachel Juba
From: Bill Lentsch [billlentsch@gmail.com]
Sent: Thursday, September 05, 2013 6:01 PM
To: Rachel Juba
Subject: RFQ
Attachments: BilILentsch-Resume.pdf
Follow Up Flag: Follow up
Flag Status: Flagged
Rachel,
I have sold restaurants including representing the owners of The Sawatdee, St Paul and Ingredients Cafe, White Bear
Lake.
Partnership Investment Group, LLC
William Lentsch
Office 651-216-4253
This communication, including attachments, is confidential, may be subject to legal privileges, and is intended
for the sole use of the addressee. Any use, duplication, disclosure or dissemination of this communication, other
than by the addressee, is prohibited. If you have received this communication in error, please notify the sender
immediately and delete or destroy this communication and all copies.
i
Woodbury Office
• Iq 0 576 Bielenberg Drive
- 4qbl Suite 100
Woodbury,MN 55125
BURN�
1\� 651-738-9262
ET LT Fax 651-738-7060
www.cbburnet.com
September 3, 2013
Bryan Bear
City Administrator
Hugo, MN
14669 Fitzgerald Ave. North 55038
Dear Mr. Bear,
I am writing to express my interest in Marketing the 4.19 acre
property located within the Downtown District of Hugo.
I have been a licensed Realtor since 1987, and have been in-
volved with many commercial transactions, including bringing
Embers and Bobby & Steves to Hugo. If you decide to come
with myself, you will also have the national name recognition of
Coldwell Banker. I can take the listing at 6%, and your listing
information will go to over 200 search engines and 600 sites.
These include the likes of Zillow, Trulia, Homes.com, Aol Real
Estate, Yahoo, Homefinder.com, Realtor.com, Frontdoor,
Homes.com and many many more. I will also put in place a
highly visible Commercial sign.
I to forward to hearing from you,
im Rolling
(612) 805-9623
Operated by Burnet Realty LLC. Q
WAKOTA commercial • •
Broker Qualifications and
Disposition
City Owned Property — Downtown Hugo, MN
EspeciaRy Prepared For:
City of • • Rachel Juba,
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Jeff • • - —Wakota Commercial • •
Bill Bergeson— High Pointe Realty
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CONFIDENTIAL
This package is a confidential document. Duplication or distribution of this package or any information
contained herein without the express written permission of Wakota Commercial Advisors and High Pointe
Realty is prohibited.
HIGH POINTE
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BROKER QUALIFICATIONS
WAKOTA QUALIFICATIONS:
Over our combined 30 year careers in the commercial real estate industry, the
brokers at Wakota Commercial Advisors have been fortunate enough to list and
sell and abundance of commercial land and a good amount of restaurant
property. In addition, we've represented retailers in the purchase of land across
the state of Minnesota and nationwide.
Partial List of transacted restaurant/hospitality assignments:
SOLD —Cattle Company- Minnetonka.
SOLD —Cattle Company - Roseville
SOLD —Cattle Company - Eagan
SOLD —Major's Sports Cafe - Bloomington
SOLD —Former Video Update Building to Bon Fire Grill—Eagan
SOLD—Myth Nightclub —Maplewood
UNDER CONTRACT—Emma Krumbee's Restaurant—Inver Grove Heights
LEASED —Tenant Representation Services for Starbuck's for state of MN—40+ locations.
LEASED—Tenant Representation Services for Green Room Restaurant—Stillwater MN.
LEASED —Tenant Representation Services: Salad Creations —several locations statewide.
LEASED—Landlord Representation. Various MN locations: Keegan's Irish Pub, Pottbelly sandwiches,
Panera Bread Company,Noodles, Chipotle.
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WAKOTA commercial advisors
The resume of Wakota's retail land sales, both as Seller's representatives and
Buyer's representatives is vast.
• Wakota has represented AutoZone, Inc. in its land acquisitions for over 6 years,and we've
represented AutoZone in the purchase of land and buildings for over 30 sites in the state of
Minnesota and western Wisconsin.
• Wakota's brokers worked with developers, Centres Inc.,in the acquisition of sites from Nebraska to
Maryland for retailers such as Bridgestone Firestone, Office Depot, and M &I Bank.
• The brokers at Wakota developed Oak Park Heights Marketplace, and as developers, acquired the
land,worked through the city processes,contracted and constructed a retail building occupied by:
Starbuck's,Verizon Wireless,SuperCuts and others.
• The brokers at Wakota listed and sold 45 acres of land at Radio Drive and Valley Creek Road in
Woodbury. A portion of the site was sold to Trammel Crow Residential for the construction of
high-end apartments. A portion of the site was sold to the YMCA. A portion of the site was sold to
TCF bank. A portion of the site was sold to Kowalski's market, and a portion of the site was sold to
a local townhome developer.
• Wakota Brokers listed the largest privately held tract of land in the state of Minnesota, 8,375 acres in
Biwabik MN.
• Wakota brokers sold the former Jim Lupient Auto Dealership in NE Minneapolis. The team was
then retained by the buyer to lease the property as multi-tenant retail,office and rental housing. The
property was 100%occupied at the end of our assignment.
• Wakota brokers listed and sold a former landfill site in the city of Minneapolis, developed as a
Whole Foods grocery store,with ancillary small shop retail space.
HIGH POINTE
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LIST OF REFERENCES:
• Stan Carpenter: Real Estate Manager — AutoZone, Inc. 901.495.8789
• Robert Carlson: Owner - Stir Companies (former partner in MN
restaurants such as: Majors, Stella's, Bootlegger's). 612.508.6270
• Stanton Schmitt: Owner — Green Room, Stillwater. 651.342.0215
• Phil Morris: Owner — Emma Krumbee's. 612.812.9061
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WAKOTA commercial advisors
SELLERREPRESENTATION SERVICES
SELLER REPRESENTATION:
When you, a property owner, are interested in selling your asset and engage Wakota Commercial Advisor's
professionals, everything changes. You now have a team working to provide immediate access to crucial
market information on recent sale transactions, buyer criteria and the appetite of buyers in the current
marketplace. This information levels the playing field and makes you equal to (or better than) the buyer at
the negotiating table. Most importantly, you can continue to run your business, while Wakota Commercial
does the "legwork" of finding you buyers.
Part of this "legwork"includes knowing the current market conditions, and the universe of potential buyers,
and brokers representing the same. We are in the business every day, studying trends,investigating property
values and doing deals. A Seller Representative knows, for instance, that a changing marketplace will cause
us to cast a larger geographic "net" to find potential buyers for your Hugo land. The Hugo property is a
beautiful site and is extremely well located within the community. Because of this site's EXCELLENT
location, lakeside ambiance, and due to the rapidly growing community, this property will attract buyers
from far reaching regions of the Upper Midwest. This market knowledge becomes extremely valuable to a
Seller during contract negotiations. Wakota Commercial Advisors has the market knowledge that you will
require to achieve the highest price for this property.
SELLER BENEFITS:
In every transaction, our goal is to create an environment that will enable you to gain the best all around
deal while creating a win-win atmosphere. We will:
'Exclusively represent your interests while marketing this property to EVERY possible buyer.
'Provide in-depth market research gathered from our experience in other transactions, from other real
estate professionals, and from our custom research.
•Save you time and resources by helping eliminate unlikely or unqualified buyers early in the evaluation
process.
Increase your negotiating power by creating competition for your property.
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REPRESENTATION PROCESS
The ultimate goal, and the primary focus for Seller Representation is to structure a transaction that meets
your goals, while ensuring your objectives meet current market conditions. Our Seller Representatives will
adhere to a well developed marketing plan,matching your disposition objectives with the right buyers.
MARKETING YOUR PROPERTY
Wakota Commercial Advisors will market your property to appropriate prospective buyers and real estate
brokers, by creating an electronic brochure highlighting all aspects of the Hugo Land, a hard-copy property
brochure to be handed out on property tours, an informational postcard for target mailings, and an
informational broadcast email to be sent to our various databases. We will place your property information
on all available web based databases,including Loopnet,MNCAR,and Wakota.com.
In addition to our marketing efforts described above, we will perform one of the most basic principals
known to our business — we'll cold call. The art of cold calling has been lost in today's high-tech
environment. The Cold Call is the most basic function that we all learn (or hear about) when entering the
commercial real estate arena,yet it's the most under-utilized facet in most commercial real estate firms.
As discussed, at Wakota Commercial Advisors we are selective in the choosing the projects we work on and
clients with whom we work. We're not choosy because we're arrogant, we're choosy because we go into
every listing with one goal in mind: to get the deal done. Therefore,we do not take on listings simply to put
a sign on the property and hope that a property sells. We live by the motto: "You don't get what you
deserve,you get what you negotiate". We always have been,and always will be, RELATIONSHIP oriented,
not TRANSACTION oriented.
The most important aspect of the marketing of your asset is direct communication. The buyer for this
property will be found by investigating, compiling, cataloguing and calling on all restaurant groups
nationwide. It is unlikely that this property will sell from a postcard mailing or a sign call. This property
will be sold by calling on qualified buyers from all areas of the state and region. We have already begun to
compile a hit list of buyers for this property.
We are extremely confident we will sell this quality land site.
WAKUTA commercial advisors
SCOPE OF SERVICE
1. Determine Your Objectives
It is our objective to sell this property in the shortest amount of time, at the highest price
possible while maximizing the exposure of this asset.
2. onduct Buyer Searc
Wakota Commercial will conduct extensive buyer searches. These searches will be
accomplished through advertising in various business directories, direct-mailing,broadcast
emails, cold-call canvassing, and networking though specific broker awareness campaigns.
We will leave "no stone unturned"when it comes to a marketing effort on your behalf.
3. Prepare and Deliver Property Brochure
Wakota Commercial will prepare and direct-mail detailed marketing pieces highlighting your
property. All mailings will be sent to a qualified list of prospective buyers, and active
commercial brokers. Prospective buyer lists have already been compiled and we'll begin our
calling campaign and face-to-face meetings immediately upon listing the property. All active
commercial brokers will be mailed the detailed marketing pieces for reference, outlining the
building's exquisite qualities and outstanding location.
4. Web Based Marketin
Wakota Commercial will prepare broadcast emails, (both text and visually interesting
versions are sent to assure conformity with all computer users' systems) which will be sent to
our customized databases of brokers and potential buyers highlighting your property.
Your Building will be posted on two (2) well-known commercial real estate Web Sites to
ensure maximum exposure:
• w«w.loopnet.com
• www.mncar.org
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In addition to the aforementioned Web Sites,your building will be featured on Wakota's Web
Site,www.wakota.com. All visitors will be able to download information in a timely,user-
friendly manner.This link on our Web Site will allow immediate information without the lag
time of traditional postal mail or fax. The Hugo Land uplink will offer community
information,plat maps/surveys, site plans,photographs, demographics, area maps and a full
marketing package for the property that can be easily printed.
5. Prospective Buyer Tours
Wakota Commercial will schedule and accompany potential buyers on physical tours and
inspections of the property. The tour will emphasize prime location of the land and the area
amenities, such as: easy access to Interstate 35 and of course Hwy 61, easy ingress/egress to
the property, extremely high visibility, and great signage opportunity.
Each tour will be specifically tailored to the known requirements of the potential buyer.
6. Si na e
Wakota Commercial Advisors will install FOR SALE signage on the property in the most
visible location(s).
7. ocumentatio
Wakota will review and make recommendations to you regarding all Letters of Intent to
Purchase and we'll facilitate the delivery of all Purchase contracts.
8. Negotiations]
Wakota Commercial Advisors will negotiate all aspects of this transaction on your behalf,
with the utmost integrity, to all viable buyers.
9. Oocument Negotiations
As directed,Wakota will assist you and your legal counsel in all negotiations for sale,which
may include review of buyer's financial statements and required credit checks,and other
pertinent business terms.
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COMPENSATION
We propose an Exclusive Listing Agreement of one (1) year with a commission amount equal to
seven percent (7%o) of the sale price payable at closing. In the event of a co-broker transaction, said
fee shall be eight and one-half percent (8.5%) of the sale price.
V
Dana M. Dose
Wakota Commercial Advisors
106 West Water Street
Ste.301
St.Paul, MN 55107
651.330.4286-Office
612.978.4576-Mobile
dana@wakota.com
Director of Marketing and Operations,2010-present
Wakota Commercial Advisors
Director at Wakota Commercial Advisors, specializing in Landlord,Seller,Tenant and Buyer representation of
retail commercial real estate.
Development and Brokerage Associate,2008-2010
Metro Equity Management, Lakeville,MN
• Responsible for the marketing of over 600,000 sq. ft.of retail and office space throughout Minnesota and
Florida.
• Strategic implementation of marketing plans specific for Landlord representation of retail and office
property.
• Market analysis and securing tenancy for the acquisition and redevelopment of shopping centers
throughout the United States.
• Site selection and overall brokerage services for national retail clients, such as AutoZone, in the pursuit
of expansion throughout the upper Midwest and beyond.
• Database and website management.
• Creation and dissemination of marketing materials for company owned and third party clientele.
• Creation, dissemination and negotiation of purchase and lease documents.
Sales and Leasing Associate,2005-2008
Upland Real Estate Group,Inc.,Minneapolis,MN
• Performed site selection, acquisition and development of retail land sites in: Minnesota and Wisconsin
for national retailers such as: Starbuck's Coffee,AutoZone,Office Depot,Chase Bank and Verizon
Wireless.
• Self generation for the representation of clientele in all aspects of commercial real estate.
• Landlord and Tenant representation in all property types.
• Seller and Buyer representation in all property types.
EDUCATION AND ASSOCIATIONS
Education:
St.Cloud State University,St.Cloud, MN Bachelor of Science—College of Business.
Memberships:
Minnesota Real Estate License
CCIM Candidate
International Council of Shopping Centers
Minnesota Shopping Center Association
Minnesota Commercial Association of Realtors
St.Cloud State University Real Estate Alumni Association
V
Jeff J. Ho uge
Wakota Commercial Advisors
106 West Water Street
Ste.301
St.Paul, MN 55107
651.330.4286-Office
612.490.5551 -Mobile
jeff@wakota.com
Managing Director,2010-present
Wakota Commercial Advisors
• Owner of Wakota Commercial Advisors,specializing in Landlord,Seller,Tenant and Buyer
representation of retail commercial real estate.
Vice President Development and Brokerage,2008-2010
Metro Equity Management, Lakeville,MN
• Responsible for oversight of leasing over 600,000 sq.ft.of retail and office space throughout Minnesota
and Florida.
• Development and implementation of marketing plans specific to each individual property and property
type.
• Coordinate and strategize for the acquisition and redevelopment of shopping centers throughout the
United States.
• Site selection and overall brokerage services for national retail clients in the pursuit of expansion
throughout the upper Midwest and beyond.
Director of Acquisitions,2006-2008
Centres Incorporated,Miami, FL
• Management of the Minneapolis office of Centres Inc. Responsible for budgeting, hiring and overall
functionality of the Minneapolis office.
• Performed site selection, acquisition and development of retail land sites in: Minnesota,Iowa,
Wisconsin,Michigan, Ohio,Illinois, Indiana, Pennsylvania,Maryland,Missouri,Kansas and Nebraska
for national retailers such as: Bridgestone/Firestone,AutoZone, Office Depot, Chase Bank and Verizon
Wireless.
Senior Associate,2003-2006
Upland Real Estate Group,Inc.,Minneapolis,MN
• Self generation for the representation of clientele in all aspects of commercial real estate.
• Responsible for the leasing of a newly developed 700,000 s.f. class A office building in downtown
Minneapolis. Achieved strong tenancy during my tenure.
• Site selection and representation services for retailers throughout the Midwest, including: Verizon
Wireless, Enterprise Rent a Car,Abra Auto Body and Glass.
• Landlord and Tenant representation in all property types.
• Seller and Buyer representation in all property types.
• DEVELOPMENT—developed and ran Upland Real Estate Development division.
Vice President of Brokerage,1998-2003
Park Midwest Commercial Real Estate, Golden Valley,MN
• Management of the Brokerage division, including:oversight of leasing in excess of 700,000 s.f.of retail
and office property throughout the Twin Cities, department budgeting,hiring of new employees and
third-party client procurement.
• Retail project management and leasing:property types varied from multiple mid-sized shopping
centers,to 10 auto malls throughout the Twin Cities.
• DEVELOPMENT—developed a 40,000 s.f.auto mall/retail center in Woodbury, MN.
• Representation of the state's largest auto dealer in the acquisition and disposition of auto dealership
properties.
Broker,1992-1998
Colliers Towle Real Estate,Minneapolis,MN
• Investment Sales Division. Property financial analysis and marketing.
Managed the creation of marketing material and sales analysis of various investment property types.
• Suburban office leasing associate on numerous multi-tenant projects.
• Managed and trained participants in Colliers Towle Real Estate Internship Program.
EDUCATION &ASSOCIATIONS
Education:
University of St.Thomas, St.Paul, MN;Bachelor of Arts.
Memberships:
Minnesota Real Estate License
Wisconsin Real Estate License
CCIM Candidate
International Council of Shopping Centers
Minnesota Commercial Association of Realtors
Scott A. Kragness
Wakota Commercial Advisors
106 West Water Street
Ste.301
St.Paul,MN 55107
651.330.4286-Office
651.323.8454-Mobile
Scott@wakota.com
Senior Associate,2011-present
Wakota Commercial Advisors
• Senior Associate of Wakota Commercial Advisors,specializing in Landlord, Seller, Tenant and Buyer
representation of retail commercial real estate.
Project Manager,2008-2011
HKL Cladding Systems,Vadnais Heights,MN
• Responsible for oversight of manufacturing and erection of exterior wall system for 56 story
condominium, "One Museum Park West" located in Chicago IL.
• Negotiate contract change orders.
• Manage Project schedule.
• Track material and labor costs weekly.
Project Manager,2004-2009
Twin City Glass Contractors,St.Paul,MN
• Manage project budgets and installation schedules.
• Facilitate contract requirements and manage changes to the contract.
• Create subcontract agreements for lower tier contractors and manage their progress and payments
throughout the project.
• Coordinate timely submittal and execution of all contractual requirements.
• Notable projects:MDA/MDH Laboratory,Medtronic CRCC, Midtown Exchange,Two Marketpointe,
Chambers Hotel,Wells Fargo Home Mortgage,St.Francis Regional Medical Center,Guidant
Senior Project Manager,2001-2004
Harmon Inc.,Minneapolis,MN
• Achieved Six Sigma/Lean certification;Green Belt status.
• Teamed with Six Sigma counterparts from other businesses within Apogee Enterprises to develop and
implement Six Sigma fabrication methodology within Harmon branch offices.
• Mentored assistant project managers on contract facilitation for commercial construction projects.
• Team member tasked with negotiating design build projects in the Minneapolis market.
• Notable Projects:Target Plaza South,Target North Campus,Mill City Museum,Franciscan Skemp
Medical,Surmodics,The Guthrie Theater.
Senior Project Manager,2000-2001
Interclad,Plymouth,MN
• Managed project costs and schedules for commercial glazing and aluminum wall panel systems.
• Manage engineering resources and drawing submittals for commercial projects
• Notable Projects:HHH Terminal,US Federal Credit Union,MAC Green Concourse Expansion
Project Manager,1992-2000
Harmon Contract Glazing,Minneapolis,MN
• Prepare material orders and project schedules
• Procure parts and components required in commercial window assemblies.
• Track labor installation progress and compare with estimated labor budget.
• Maintain current project budgets and financial cost reporting.
• Notable Projects:Denver International Airport, Meridian Crossings, Children's Mercy Hospital
EDUCATION&ASSOCIATIONS
Education:
North Dakota State University, Fargo, ND;Bachelor of Science,Business Administration
Memberships:
Minnesota Real Estate License
northCo"' brokerage
City of Hugo
Downtown Development Land
Highway 61- Hugo, MN 55038
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Presented By:
Richard Allendorf
Northco Real Estate Services
Senior Vice President
952.820.1656
rallendorf(a)northco.com
Chris Kubesh
Northco Real Estate Services
Vice President
952.820.1668
ckubeshPnorthco.com
5353 Wayzata Blvd, Suite 400 Minneapolis, MN 55416-1340
Main: 952.820.1600 1 Fax: 952.820.1620 1 www.northco.com
northco brokerage
City of Hugo
Downtown Development Land
Highway 61- Hugo, MN 55038
Table of Contents
1 — Cover Letter
2 — Company & Team Information
3 — Recent Completed Transactions
4 — Form Listing / Marketing Contracts
5 — Marketing Plan
5353 Wayzata Blvd, Suite 400 1 Minneapolis, MN 55416-1340
Main: 952.820.1600 1 Fax: 952.820.1620 1 www.northco.com
Dick Allendorf
952-820-1656
ral lendorfgnorthco.com
September 4,2013
Rachel Juba, Planner
14669 Fitzgerald Ave.N.
Hugo, Mn. 55038
Re: Request for Qualification of Marketing Services to provide commercial real estate
services for city owned land
Dear Ms.Juba:
We have attached fifteen(15)tabbed books that include information about our company,team
and process that will demonstrate our qualifications to assist Hugo in finding users to fulfill the
purpose outlined in your RFQ. All of the supporting information described below is laid out in
attached exhibits.All contact information for us is as follows:
Legal Name of Company: Northco Real Estate Services, LLC, a Minnesota limited
liability company
Address: 5353 Wayzata Boulevard, Suite 400, St. Louis Park,Mn. 55416
Contact: Dick Allendorf, Senior Vice-President, 952-820-1656, rallendorf(cT.northco.com
Northco Real Estate Services("Northco") is a full service commercial real estate firm with
Minnesota roots going back to 1975.We have a number of professionals with significant
experience in retail marketing,land sales and development,which have been teamed together to
address the marketing of your land.This team has over seventy(70)years of commercial real
estate experience(see exhibit 2).
We have included references for both retail and land assignments(see exhibit 3)meant to give the
city comfort in our background and company experiences.
A form of"Exclusive Representation Agreement"and suggested"Commission Agreement" is
also included(see exhibit 4). We believe both agreement types address the specific nature of your
Tax Increment Financing Agreement land situation,as well as the contiguous vacant land position
in your downtown area.
Also provided is our marketing plan(see exhibit 5).
We are pleased to present this information,and welcome any questions or comments which you
may have. We hope that we are selected and look forward to working with you on this exciting
project.
Regards,
Dick Allendorf
Senior Vice-President
BROKERAGE I PROPERTY & ASSET MANAGEMENT CONSTRUCTION MANAGEMENT I GOLF & HOSPITALITY INVESTMENT
E
Company Profiles `
www.northco.com
Northco is one of the state's largest full-service commercial real estate firms with a significant regional
presence.Originally established in 1975, we provide a staff of professionals with extensive industry
experience, advanced market knowledge throughout the region and a thorough understanding of
the complexities associated with real estate/business transactions.The staff is comprised of multiple
lawyers, graduates, MBA, CCIM and other top professional affiliations so our clients are assured they
are getting the best in the industry.
Our five professionally staffed divisions - Brokerage, Property& Asset Management, Construction
Management, Investment, Golf& Hospitality-work together to take any transaction from concept to
completion serving individuals, corporations institutions, and municipalities. We have specialists in
office, industrial, retail, land, multifamily, golf courses, hospitality and investment properties.
The reputation of Northco in the Twin Cities community has been built over a nearly 40year period.
As an owner and co-investor in many real estate projects in the Twin Cities we are well known,
trusted and respected by our clients and competitors.Our long history of success is based on ourtotal
commitment to building relationships and putting our clients'interests first.We focus on creative,
strategic, long-term planning, and then tailor the services we deliver to meet your requirements.
In addition to our local expertise, Northco has built a vast network of relationships nationally providing
our clients a single point of contact,to serve the multi-market needs of our clients. We have processes
and systems that allow the transaction to flow similarly every time.
INTEGRATED SERVICES
Property&Asset Management Brokerage Services Golf& Hospitality
• 24/7 Emergency Staffing • Sales& Leasing • Brokerage
• On-Site Management • Tenant Representation • Management
• Accounting& Financial • Landlord Representation • Consulting
Reporting • Consulting • Investment
• Vendor Management • Corporate Services • Food & Beverage
• Lease Administration • Site Assessment
• Property Tax Protest • Market Analysis Investment
• Receiverships • Opinion of Value • Syndication
• Expert Witness • Sponsorship
Construction Management • Private Placement Funds
• General Contracting Services • Tenant In Common (TIC)
• Owner Representation • 1031 Exchanges
• Land Development • Sale Leasebacks
• Predesign Budget/Schedule
• Construction Consultation
OFFICE INDUSTRIAL I RETAIL I LAND I GOLF & HOSPITALITY I INVESTMENT MULTIFAMILY 1 1o1 `'' •"O
Company Snapshot
MARKET SPECIALTIES SIZE
• Office • 30+ Professionals Located in the Twin Cities
• Industrial • Network/relationships in most major markets in the
• Land country
• Retail
• Multifamily
• Investment INTEGRATED SERVICES
• Hospitality/Resorts
• Golf Courses • Brokerage
• Property&Asset Management
• Investment
VALUE-ADDED SERVICES • Construction Management
• Golf& Hospitality
Market Research
• Site Selection
• Mapping& Demographics
• Market Trends Reports
• Annual Forecasts
• Sale& Lease Comparables For
• Tenant,Owner& Business Databases Sas W
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Marketing&Creative Services nrthcoibokep9e
• Flyers, Brochures
• Photography
• Aerial Photography
• Advertisements
• Postcards/Mailers
• Electronic Marketing
• Signage Azle,
• Custom Developed Marketing Materials
OFFICE LOCATION
Northco Real Estate Services northcoleo'f&hospitality
5353 Wayzata Boulevard, Suite 400
Minneapolis,MN 55416-1340
Main:952.820.1600 1 Fax:952.820.1620
www.northco.com
northco"
PROFESSIONAL PROFILE
DICK ALLENDORF
Senior Vice President
Brokerage Services
CAREER SUMMARY
Dick Allendorf has over 30 years of real estate experience. His expertise includes marketing,planning and development,and leasing.
Throughout his career he has had various roles. Prior to joining Grubb&EIIislNorthco,Dick was the Senior Vice President at Eberhardt
Company where he directed the Real Estate Advisory Services Department,charged with coordinating and combining the skills and
resources necessary to get maximum return from real estate assets for corporate,institutional and government clients. While with Opus
he managed the development and leasing of all downtown Minneapolis developments including;100/150 South Fifth office complex,the
Fourth Avenue Parking Ramp,and First Bank Place.
Dick is an active member on several councils and advisory boards,and is currently an elected member of the Minnetonka City Council.
EXPERIENCE
• 2006-Present: Grubb&Ellis I Northco,Senior Vice President,Brokerage Services
• 1994-2005: Eberhardt Company,Senior Vice President
• 1978-1994: Opus,Vice President,Real Estate Development,Director of Corporate Marketing
• 1968-1978: IBM,Marketing and Sales
EDUCATION
■ MBA Degree-Marketing,University of Minnesota,Minneapolis MN
• Bachelor's Degree in Finance,University of Minnesota,Minneapolis MN
CIVIC&PROFESSIONAL AFFILIATIONS
• Member of Minnetonka City Council from 1991 to 2003,Minnetonka City Council At-Large 2005 to present
• Member of 494 Transportation Management Organization(1995—Present)
■ Member MetroCities Transportation and General Government Policy Committee
• Minneapolis Skyway Advisory Committee
• Downtown Mpls.Transportation Management Org.(1991 —Present),currently chair
• Chair of the Seven County LRT Business/Government Partnership(1993—1994)
• Downtown Minneapolis LRT Advisory Council
• Minneapolis Skyway Advisory Committee
• Member of Minneapolis Downtown Circular Task Force(1999)
• Director of MnDot sponsored Congestion Education Campaign(1998)
• Minneapolis Transit Steering Committee(1997—chair, 1998 co-chair)
• Member of MnDot,RCRRA,HCRRA Central Corridor Task Force(1993)
• Executive Committee Downtown Council
• Metro 2010 Planning Task Force
• Member NAIOP
northw
PROFESSIONAL PROFILE
FRANK A. CAREER SUMMARY
JERMUSEK Frank is one of two principals at Northco Real Estate Services. Frank
President has served as President and Managing Director since acquiring the
company in 2006. In this role he is in charge of all company operations
including leading a sophisticated team of professionals specializing in
brokerage services, investment, management, consulting and golf &
hospitality.
Frank started the first 15 years of his career serving as general manager
t�. and controller at Baker Investments which owned parking facilities, office
and retail buildings, apartment complexes, timberland, architectural
firms, real estate management and development companies,
restaurants, retail shops and a newspaper and publishing company.
5353 Wayzata Blvd After leaving Baker Investments Frank joined Leonard, Street and
Suite 400 Deinard, a large Minneapolis based law firm. He focused his law
Minneapolis, MN 55416-1340 practice in the areas of real estate, banking and corporate law. He is still
a licensed attorney in the State of Minnesota.
Phone:952-820-1615
Fax: 2-516-6030
61
Cell:612-385-5546 In 2006, Frank acquiredp the Minneapolis Grubb & Ellis affiliate Northco
fjermusek@northco.com Real Estate Services. Northco is a full service commercial real estate
firm that has been a leader in the Twin Cities market since 1975.
SPECIALIZATION During his career, Frank has worked on thousands of real estate,
Commercial Real Estate corporate and golf/hospitality transactions ranging from small local real
Golf&Hospitality estate transactions to a $150+ million corporate transaction, all totaling
well over$1 billion in transaction volume.
CLIENT RELATIONSHIPS
• General Electric Pension EXPERIENCE
• Investor's Real Estate Trust • 2006—Present: President, Northco Real Estate Services
(IRET) • 2003 -2006: Attorney, Leonard Street and Deinard
• Northco/Navigator Core • 1989-2003: General Manager/Controller, Baker Investments
Real Estate Fund
• Upland Private Equity
■ Capital One Finance EDUCATION
• HNI Corporation ■ William Mitchell College of Law—Juris Doctor
■ KIPP Academy ■ University of St. Thomas—Bachelor of Arts— Business
• USDA • Minnesota School of Business -Accounting
■ Great Lakes Synergy
• Mutual of Omaha
■ Tri-State Hospital Supplies PROFESSIONAL RECOGNITIONS/AFFILIATIONS
• Comcast Spotlight Licensed Real Estate Broker— MN, WI, SD, ND, IA
■ Wells Fargo Minnesota and Hennepin County Bar Associations
• Western Bank Volunteer Lawyers Network
• Presidium Asset Solutions
• Ogletree Deakins Law Firm
• Kensington Bank
• Arthur J. Gallagher
• Northern Pipeline
• O'Reilly Auto
• Sun Life
northco
PROFESSIONAL PROFILE
CHRIS KUBESH CAREER SUMMARY
Vice President
Chris uses his extensive knowledge of the Twin Cities market and his
vast experience in retail sales to provide a unique perspective in
commercial real estate transactions. Foreseeing issues of both the client
and broker makes Chris a valuable asset to the Northco brokerage team.
Currently, he is involved in multiple commercial transactions for retail,
office, industrial, and investment properties.
Chris is also a member of the Northco Golf and Hospitality Group,which
focuses on the acquisition, disposition, and consulting for golf and resort
properties. Chris specializes in various legal, accounting, investment,
5353 Wayzata Blvd marketing, and financing activities.
Suite 400
Minneapolis,MN 55416
Phone:952.820.1668
Fax:952.516.6003 EXPERIENCE
Cell:612.242.6443
ckubeshC�northco.com
■ Vice President, Northco 2012 -Present
SPECIALIZATION NSenior Associate, Northco 2007-2012
Brokerage Services/ a Research Analyst, Northco 2007—Present
Research Analysis
■ General Manager for Hat Trick Hockey Inc. 1996—2008
a leading Local/Regional Retail Merchandising Company
MAJOR CLIENTS SERVED
• Wells Fargo
• Western Bank
• M&IBank
• Kensington Bank PROFESSIONAL AFFILIATIONS
• Bank of Elk River ■ Licensed Minnesota Real Estate Agent
• Comcast ■ Licensed Wisconsin Real Estate Agent
• FDIC
• USDA ■ Minnesota Commercial Association of Realtors (MNCAR)
• Presidium Asset Management International Council of Shopping Centers (ICSC)
• Trimont Asset Management
• Navigator Real Estate Group
• Snap Fitness EDUCATION
• United Rentals
• O'Reilly Auto Parts Bachelor of Science in Kinesiology
• Mitel University of Minnesota, Twin Cities
• Hillcrest Golf Club
• Golden Eagle Golf Club
• Hudson Golf Course
• Newman Golf Group
northco'
PROFESSIONAL PROFILE
CAMERON PETERSON CAREER SUMMARY
Vice President
Cameron Peterson brings in a fresh perspective to the Northco team.
Currently, he has closed many commercial deals for office, industrial,
retail, golf course, and investment properties. His tech-savvy approach to
complex real estate transactions has provided our team with
comprehensive services to best serve our clients. Cameron also uses
his knowledge of the Twin Cities marketplace to help companies
leverage their resources and reduce their financial & business risk.
Six years experience in real estate &the platform at Northco provides
Cameron with depth and breadth of expertise to add value for many of
5353 Wayzata Blvd our clients.
Suite 400
Minneapolis, MN 55416
Phone:952.820.1688 EXPERIENCE
Fax:952.516.6020
Cell:651.216.1258
coeterson(d�northco.com Brokerage Associate, Grubb & Ellis I Northco 2006—Present
SPECIALIZATION NAnnuity Sales, Renaissance Annuity Group 2006
Brokerage 6 Support, Bethel Information Technologies 2003-2004
MAJOR CLIENTS SERVED
• Anchor Bank
• Bowne
• CitiFinancial EDUCATION
• Comcast Spotlight
• Fireside Hearth&Home Bachelor's Degrees in Finance and Marketing, Bethel University,
• Flash Global Logistics St. Paul, MN
• Great Lakes Synergy
• Hillcrest Golf Club
• Hyatt Regency Hotel PROFESSIONAL AFFILIATIONS
• ITC Transmission
• KIPP
• Kmart
• Northstar Center • Licensed Minnesota Real Estate Agent
• Play N Trade ■ Licensed Wisconsin Real Estate Agent
• Qwest Telecommunications
• Seasons Market Retail Center International Council of Shopping Centers (ICSC)
• Stearns Lending Minnesota Commercial Association of Realtors (MNCAR)
• Tri State Hospital • National Association of Realtors (NAR)
• Transcend United
• United Rentals
• USDA Federal Milk Market
• Wells Fargo Bank
• Ogletree Deakins Law Firm
northco
PROFESSIONAL PROFILE
KRISTA JERMUSEK CAREER SUMMARY
Senior Associate
Krista began her career at Northco several years ago as an intern in the
commercial brokerage and marketing departments. Over the years
Krista has worked on hundreds of projects in a wide variety of areas
including office, retail & industrial leasing, land sales and golf course
sales and acquisitions.
Krista is currently a member of the Northco Golf and Hospitality Group,
which focuses on the acquisition, disposition, and consulting for golf,
resort and hotel properties. In addition, Krista works on a retail and REO
team that represents numerous projects across the Twin Cities. Krista
5353 Wayzata Blvd has also been trained in numerous marketing programs including
Suite 400
Minneapolis,MN 55416 InDesign, Photoshop and Illustrator.
Phone:952.820.1618
Fax:952.516.6027 EXPERIENCE
Cell:763.458.0385
KJerm usekCcilnorthco.com
■ Northco Real Estate Services 2006—Present
SPECIALIZATION o Senior Associate[2013—Present]
Brokerage Services/Marketing o Brokerage Associate[2011 —2013]
o Brokerage Intern/Marketing [2006—2011]
MAJOR CLIENTS SERVED . Member of The Big Brother/Big Sister Program 2010—Present
• Wells Fargo
University of MN - Department of Psych 2010-2011
• Western Bank
• Kensington Bank o Accounting Specialist
• Bank of Elk River
• Comcast Spotlight
• Presidium Asset Management PROFESSIONAL AFFILIATIONS
• Trimont Asset Management E Licensed Minnesota Real Estate Agent
• Navigator Real Estate Group ■ Licensed Wisconsin Real Estate Agent
• Hillcrest Golf Club
• Newman Golf Group
• Four Seasons Resort EDUCATION
• Golden Eagle Golf Club
• Black Bear Golf Club
■ Bachelor of Economics, University of Minnesota, Minneapolis,
• Izatys Resort Minnesota
• Superior Shores
■ Bachelor of Business,Accounting, University of St. Thomas, St.
Paul, Minnesota
northco
PROFESSIONAL PROFILE
ANGELA M. CAREER SUMMARY
JERMUSEK
At Northco, Angela delivers comprehensive marketing solutions and
Marketing Director creative services to our clients. She provides professional layout, design,
copywriting, printing and production services to suit individual client and
property needs. In addition, Angela works closely with brokers and our
golf& hospitality group to develop strategic marketing plans to target
prospective end users through advertising, direct mail, and public
relations. She strives to ensure that the company maintains its
competitive edge by utilizing the latest graphic design software and
providing professional, value-added marketing services.
Prior to full-time work at Northco, Angela spent 18 years raising 3
5353 Wayzata Blvd children and volunteering at numerous organizations and schools
Suite 400 including: St. Stephen's, Andover schools, and Hill Murray. Angela also
Minneapolis, MN 55416-1340
worked part-time for the Anoka School District.
Phone:952-820-1681
Fax:952-516-6017 Angela has also earned her real estate license in Minnesota and
Cell:612-385-5542 Wisconsin.
aiermusek(a)northco.com
EXPERIENCE
SPECIALIZATION ■ 2006—Present: Marketing/ Brokerage, Grubb & Ellis Northco
Marketing/Brokerage 2006 - 2009: Administration, Anoka School District
EDUCATION
■ Hennepin Technical College—Graphics Design
• University of St. Thomas— Business
• Minnesota School of Business- Stenography
PROFESSIONAL RECOGNITIONS/AFFILIATIONS
• Licensed Real Estate Agent—MN, WI
■ MNCAR
northco
RECENT RETAIL COMPLETED TRANSACTIONS
Fiesta Cancun 2013
Negotiated and secured a lease location for this Mexican
restaurant in a Brooklyn Center outlot location
Rubv Tuesdays 2012
Northco not only found the land in Owatonna for this
restaurant, but helped negotiate the final Transaction
Turkey to Go 2012
lfi D11i.
Found and leased the first location in Minneapolis for this very
successful food truck concept
KIKUGAWA Kikugawa 2012
-.AT RIVERPLACE .
Relocated this legendary Japanese restaurant to the downtown
Minneapolis area after their then current landlord
repositioned their building space
African Market 2012
Assembled a demographically appropriate space in Brooklyn
Park for this new venture grocery/restaurant concept
is SORRENTO CUCINA11 Sorrento's 2012
ircrana
Located and managed the rebuilding of a location in
Minneapolis for this popular Italian concept restaurant
Byblos Cafe 2011
Overcame both language challenges and a difficult landlord
situation to place this Lebanese concept in Burnsville
Saucv Chicken 2011
Solved a problem location,without a vent or hood,to install
this new venture restaurant in a Minneapolis street frontage
location
The Sandwich Shop 2011
Relocated this franchise restaurant in a prime area of the
Minneapolis skyway location
EXCLUSIVE LISTING AGREEMENT
Huao,Minnesota
THIS EXCLUSIVE LISTING AGREEMENT(the"Agreement"),dated XXXXX,2013,is by and between Northco Real
Estate Services,LLC,a Minnesota limited liability company("Northco")and The City of Hugo,Mn.("Owner").Owner
is desirous that Northco act as the exclusive listing broker to sell Owner's property(`'Property")PID#XX-XX-XXX
located in Downtown Hugo,MN.The Property consists of approximately 4.19 acres of land.
Owner hereby hires Northco as Owner's exclusive listing agent, to market the Property for sale and Northco hereby
accepts such appointment. The Term of this Agreement shall be for a period of twelve(12)months commencing on
XXXXX, 2013 (the "Commencement Date") and terminating twelve (12) months from the Commencement Date
("Term").
Northco hereby agrees to immediately commence and diligently pursue the execution of marketing programs towards the
sale of the Property. Northco shall use reasonable commercial efforts to procure a buyer for the Property and to assist
Owner in the negotiation of the sale of the Property. Northco shall keep Owner advised as to the status of the marketing
program. The Property shall be offered for sale without an initial list price and upon the minimum sale terms and
conditions of an all cash transaction. Such terms shall be subject to modification at any time or from time to time as
Owner shall agree to,in writing.
It is further agreed as follows:
I. Owner will refer all inquiries pertaining to the Property to Dick Allendorf and Chris Kubesh (the"Selling
Brokers")Northco during the term of this Agreement and Northco will diligently market,promote and make
proposals to all such referrals as deemed appropriate by Northco in furtherance of its duties hereunder.
2. In the event of a sale of all or a portion of the Property during the Term of this Agreement,or any override
period,Owner shall pay Northco a commission of$.50 per square foot of Property sold.
3. The parties specifically agree that Owner is not obligated to pay, nor is Northco entitled to receive, any
commission unless and until the sale of all or any portion of the Property is closed. Further,Owner shall have
the discretion to accept or reject any and all offers received during the term of this Agreement, and shall be
under no obligation to Northco to accept any offer presented or any offer which would entitle Northco to a
commission.
4. Owner shall pay Northco its commission for any transaction,if within one hundred eighty(180)days after the
termination or expiration of this Agreement,Owner sells or agrees to sell all or any portion of the Property,or
commences and thereafter continues discussions leading to a sale of all or any portion of the Property,to any
third person who previously made an affirmative showing of interest in the Property during the Term of this
Agreement by responding to advertising,by contacting Northco or who had been physically shown the Property
by Northco, its salesperson,or a cooperating broker. It is understood that Northco shall not seek to enforce
collection of a commission under this Paragraph 5 unless the name of such third person is on a written list given
to Owner within 72 hours after the termination or expiration of this Agreement.
5. The terms of this Agreement shall survive and be enforceable after termination of the Agreement.
6. This Agreement constitutes the complete agreement between the parties and supersedes any prior oral or written
agreements between the parties. No amendment,modification or extension of this Agreement shall be valid or
binding unless made in writing and signed by both Owner and Northco.
7. This contract shall be governed by the laws of the State of Minnesota.
8. Nothing in this Agreement shall create or be deemed or construed to create a joint venture or partnership
between or among Northco and Owner. This Agreement shall not be deemed at any time to create an ownership
interest of Northco in the Property or any improvements thereon.
9. In addition to all remedies otherwise provided in this Agreement,each party hereto shall be entitled to all
remedies available at law or in equity for any breach of,or failure of the other party to perform,any obligations
under this Agreement. In the event suit is brought to enforce or interpret all or any portion of this Agreement,
the prevailing party shall be entitled to recover all costs and expenses incurred by it in connection therewith,
including its reasonable attorney's fees and costs.
CITY OF HUGO,MN. NORTHCO REAL ESTATE SERVICE,LLC
Dated Dated
XXXXXXXXXXXX Frank A.Jermusek, President
Marketing Plan
City of Hugo
Downtown Development Land
Northco will market the subject property utilizing the following resources and methods,at no additional cost to
Owners:
1. Design an electronic brochure to be circulated to:
a. The following websites and multiple listing services:Loopnet,MNCAR/Eproperty,CoStar,and
the Northco website.
b. Northco's proprietary data base consisting of real estate brokers, investors,developers,businesses
and individuals.
c. Targeted users with who fit within approved and conditional uses for the site.Followed by phone
calls to target buyers.
2. Design and print brochure/postcard to be circulated by direct mail. The brochure/postcard will be mailed to
select contacts and followed up by direct calls.
3. Put together a comprehensive Offering Memorandum which details out the opportunity.This answers most
of the buyer's questions before they ask them which speeds up the acquisition process.
4. Assist potential buyers in obtaining required information.
5. Monthly marketing reports will be submitted to Owners.
6. Make oral reports to Owners as needed.
7. Once the property is under contract—work with Owners to close the transaction.
The following individuals will be assigned directly to this project and be the first point of contact for interested
parties:
Dick Allendorf,Senior Vice President/Chris Kubesh, Vice President
Northco has the staff time and financial resources available to begin work on this assignment as soon as an
agreement is approved by the Owners.
MONTHLY SALE ACTIVITY LOG
Date:
Property Name:
CLIENT CONTACT:
NORTHCO AGENT:
Marketing Summary Sheet
DATE ACTIVITY
Ongoing LOOPNET ACTIVITY
MNCAR ACTIVITY
COSTAR ACTIV ITY
Northco Website
Sign at Property
EMAIL BLAST TO PROPRIETY LIST OF BROKERS,BUYERS,REAL ESTATE RELATED PROFESSIONALS
Please detail above any and all marketing efforts(i.e.cold calls,flyers,broker open houses etc.)
Prospect Summary Sheet
PROSPECTIVE BUYER
AND/OR DATE RESULTS/COMMENTS ILSTATUSBROKER/CONTACT ODE
Please indicate above the current status of any prospects.
STATUS CODES: 1. First Contact 2. Tour 3. Proposal Pending
4. Letter of Intent 5. Contract Out 6. Sales Agreement Executed
Recommendations
Recommendations On How To Improve Marketability,And/Or Comments
Completed by
Northco Real Estate Services
northco I brokerage