{"id":83980,"date":"2022-12-02T06:00:00","date_gmt":"2022-12-02T12:00:00","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=83980"},"modified":"2022-12-01T08:59:08","modified_gmt":"2022-12-01T14:59:08","slug":"downtowns-back-baybee","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=83980","title":{"rendered":"Downtown’s Back, Baybee!"},"content":{"rendered":"\n

If proclamations made with muted, Minnesotan gusto were correlated with economic results, Jacob Frey’s exhortations would have downtown Minneapolis humming along like Dallas. <\/p>\n\n\n\n

Alas, they do not. Some of downtown’s signature office towers<\/a> are ailing financially:<\/p>\n\n\n\n

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 The 30-story LaSalle Plaza in downtown Minneapolis is scheduled to go to auction<\/a> next week after the previous owner, the Teachers\u2019 Retirement System of the State of Illinois, avoided foreclosure by transferring the building to its lender, Northwest Mutual.<\/p>\n\n\n\n

Nearby Fifth Street Towers is facing the same fate and may also go back to its lender this month, according to Axios’ sources who were not authorized to discuss the matter.<\/p>\n<\/blockquote>\n\n\n\n

And it’s not just your garden-variety class-AAAAA office space. It’s the big daddy of all the downtown office buildings (emphasis added):<\/p>\n\n\n\n

\n

Real estate analytics firm Trepp is keeping tabs on IDS Center<\/strong> \u2014 the city’s most iconic office tower \u2014 due to a 77% occupancy rate and the loss of Nordstrom Rack from Crystal Court, said senior managing director Manus Clancy<\/p>\n<\/blockquote>\n\n\n\n

Rumors of downtown’s non-demise appear to be premature. <\/p>\n","protected":false},"excerpt":{"rendered":"

If proclamations made with muted, Minnesotan gusto were correlated with economic results, Jacob Frey’s exhortations would have downtown Minneapolis humming along like Dallas. Alas, they do not. Some of downtown’s signature office towers are ailing financially:  The 30-story LaSalle Plaza in downtown Minneapolis is scheduled to go to auction next week after the previous owner, the Teachers\u2019 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[452,57,416,449,17],"tags":[],"class_list":["post-83980","post","type-post","status-publish","format-standard","hentry","category-bride-of-stagflation","category-economy-and-the-market","category-covid19","category-lets-go-brandon","category-minneapolis"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83980"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83980\/revisions"}],"predecessor-version":[{"id":83981,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83980\/revisions\/83981"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83980"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}