EDA President Krant, EDA Board Members, and Interim Administrator Meyer

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1 MEMORANDUM DATE: November 13, 2017 TO: FROM: RE: EDA President Krant, EDA Board Members, and Interim Administrator Meyer Cynthia Smith Strack, Community Development Director Item 5.2 Listing Industrial Property at Laredo Street REQUEST: Authorize Listing Agreement. GENERAL INFORMATION At the October meeting the EDA authorized/directed requests for information be sent to area real estate brokers regarding listing of the 5+ acre industrial parcel adjacent to Laredo Street/South Street. EDA Board Members Fahey and Shutes and staff developed and reviewed the request for information letter. The letter was distributed to brokers with: Edina Realty, Coldwell Banker, ReMax, and Chestnut Realty. We received one response to the RFI, from Coldwell Banker. The proposal is attached. Discussion of the proposal is requested. If the EDA is satisfied with the proposal and/or proposed adjusted proposal, a MOTION to authorize execution of the lease agreement would be in order.

2 John Behnke Carver County Office Realtor MN 510 N Chestnut Street Ste. 100 Chaska, MN Cell: (952) Office: johnbehnke.cbintouch.com Cynthia Smith-Strack City of Belle Plaine 218 North Meridain St Belle Plaine, MN Community Development Director RE: Listing of City Property Laredo Street Dear Cythnia: Thank you for the opportunity to market this property. Below is a response to the questions requested in your previous letter. 1. Strategy for Marketing a. Northstar MLS - with this tool listings branch out to over 900 websites b. MNCAR & Costar - Specifically designed for Commercial agents c. Onsite billboard with City of Belle Plaine s CDA info 2. Description of Firm a. John Behnke Listing agent on the property i. Organizes marketing materials ii. Meets with potential clients iii. Negotiations b. Ginelle Whiting i. Dedicated Marketing Support Specialist ii. Creates website specific to the property iii. Designs / orders brochures & marketing materials 3. Examples of Previous brochures see attached 4. Fee and Marketing Schedule 5. Commission Rate 6% + $499 fixed commission w/ 6 month term 6. An option to commission rate in the event that the city reduces the sales price a. Commission calculation will be determined using 90% of the original list price 7. Additional costs the city may anticipate relating to the real estate services provided. a. Survey (if negotiated into the contract) b. Legal (if city attorney deems necessary) 8. Template of Lisiting agreement for commercial / industrial land -see attached Please contact me directly with any questions. Sincerely, John Behnke Colwell Banker Burnet Coldwell Banker and the Coldwell Banker Logo are registered service marks of Coldwell Banker Real Estate LLC. Coldwell Banker Burnet is owned by a subsidiary of NRT LLC.

3 FOR SALE Arlington Warehouse Facility 300 3RD AVENUE SW ARLINGTON, MN John Behnke Realtor MN Cell: Office:

4 Property Description Rare opportunity to own / lease a large industrial facility. 150,000+ square feet of former food processing warehouse storage & 2500 sq ft office space. Many options with 8 dock high doors and 8 drive doors. Also rail access for any type of large transportation needs. Details PRODUCT TYPE: Food processing & Distribution Facility RBA: 170,00+ SF Warehouse 2,500 SF Office 247,455 SF Total LAND AREA: Acres 482,644 SF YEAR BUILT: expansions through 1995 CONSTRUCTION: Combination of Block & insulated Metal CLEAR HEIGHT: Varies - generally 19' RAIL ACCESS: MN Prairie Line Railroad (Subsidiary of TC&W) 2 Rail Doors LOADING: 8 Dock High Doors 8 Drive-in Doors ZONING: Industrial

5 Highlights MN Prairie Line Full size truck scale 24 trailer houses for employee housing - can be excluded from sale City of Arlington is eager to work with businesses on incentive packages Located on MN State Hwy 5 - Near MN State Hwy 19 & 212 Sale Price - $1,095,000 Lease Rates - $2/net Property Breakdown WAREHOUSE SPACES: W1-20,424 SF 2,500 SF Office (2 Levels) W2-3,520 SF W3-3,561 SF W4-4,400 SF W5-5,500 SF W6-13,000 SF W7-11,550 SF W8-13,293 SF W9-13,600 SF W12-36,000 SF 1,220 SF Dock W13-27,000 SF PROCESSING SPACES: P1-11,829 SF COOK SPACES: CR1-1,925 SF CR2-1,400 SF CR3-2,280 SF BOILER SPACES: BR - 1,949 SF

6 W7 W8 W6 W9 W5 W4 W3 W2 W13 W12 W1 P1 CR2 CR3 BR CR1 Property and Buildings for Sale. John Behnke Realtor MN Cell: Office:

7 Great Opportunity 725 E Main Street, Belle Plaine, MN Excellent commercial opportunity in Belle Plaine. Has both in floor and forced air heat. High ceilings, paint booth and dust collection system. Current use is cabinet shop but this building has many possibilities. Large paved parking area. Cabinetry business also available for purchase. John Behnke Realtor MN Cell: Office:

8 Property Facts zoning: Business/Commercial Year Built: 1960 Square Feet: 5,500 Acres: 0.8 Garage: 3 spots (attached) Parking: Asphalt Driveway, 10 Non-Garage spots Exterior: Metal Roof: Pitched, FLat Frontage: City Taxes (2016): $10,882 Sewer: City Connected Water: City Connected Heat: Forced Air, In-Floor Heating Cooling: Central Other Features: Overhead Doors, Three Phase Location Located on Main Street near Johnson Memorial Drive. Across the street from Kwik Trip and the Belle Plaine Fire Department. Near restaurants, library, churches and schools John Behnke Realtor MN Cell: Office: If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully Burnet Realty LLC. All Rights Reserved. Coldwell Banker Burnet LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Real estate agents affiliated with Coldwell Banker Burnet are independent contractor sales associates and are not employees of Coldwell Banker Burnet.

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