A Bargain – The Best I Ever Had
By Mitch Berg
Joe Doakes from Como Park emails:
The US Bank building in downtown St. Paul was foreclosed last year. The River Park Plaza building across the river from downtown St. Paul also was foreclosed last year. I don’t know how many more are in the pipeline.
St. Paul Class A office space vacancy rate is 12%. As last report, Class B was 24% and Class C was 19%, for an overall rate of 21%.
This, five years into the “recovery.” This is not your grandfather’s recovery. It’s more like your grandfather’s Great Depression.
Joe Doakes
And that’s after the State of Minnesota rented a hog-pile of empty and underutilized space.
And, I’ll guess, before the whole “Vacant Macy’s” gets counted, to boot. It’s not “office” space, after all; just a vacant block.
More “recovery” like this and Saint Paul might need to try to find oil under some of those refrigerated ice rinks Mayor Coleman just had to have.
July 16th, 2013 at 9:40 am
But, but, but MN has the best economy in the Union! Just ask any libturd.
July 16th, 2013 at 10:18 am
Minor nit, but if we hadn’t changed how we measure unemployment we’d have a worse unemployment rate now than at any time in the Great Depression.
We really need a new name for the “Obama Recovery.” I’d suggest we call what we have the Great Regression.