t's been nearly 10 years since a large-scale shopping center opened in the Twin Cities, and despite a growing appetite for more space, there are no imminent plans for another.
Why it matters: Retailers and restaurants looking to open shop are feeling the pinch. A recent JLL report says Twin Cities retail rents last quarter grew by 6.7% year-over-year, the largest hike in the nation.
What they're saying: "It's gotten more and more difficult for retailers to execute on their growth plans with a lack of space," said Johnny Reimann, a broker for Mid-America Real Estate who helps retailers and restaurants find space.
- He notes that the Twin Cities ranks near the bottom in terms of new retail construction in the U.S.
Flashback: Two big shopping centers opened in 2016 and 2017: Eagan's Central Park Commons and Woodbury's City Place..
...moreRSK: How long has it been for Madison? Although Sun Prairie has Prairie Lakes.
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- - Volume: 26 - WEEK: 29 Date: 7/14/2026 9:41:49 PM -