@KellyBusche profile picture
Kelly Busche @KellyBusche

Former senior reporter & broadcaster with @MSPBJnews | MN Newspaper Association’s New Journalist recipient, 2020 | opinions = mine

Joined June 2012
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Kelly Busche@KellyBusche
29 Jul 2022
NEW: @MSPBJnews spent months analyzing downtown Minneapolis office space post-pandemic. Bottom line? The need for less space is hurting building valuations & finances. This means buildings will produce less property tax revenue the city depends upon.🧵1/9 bizjournals.com/twincities/n…

Hybrid work hits downtown Minneapolis office towers hard

The Covid-19 pandemic has drastically changed the commercial real estate industry in the Twin Cities. We take an in-depth look into 14 Minneapolis office buildings and how their combined market value...

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Wells Fargo is selling its Minneapolis Home Mortgage office campus as it scales back its local real estate holdings. The bank is consolidating local office employees to three locations: two in downtown Mpls & one in Shoreview. Reporting w/ @keithsch94 bizjournals.com/twincities/n…

Wells Fargo consolidates offices, will sell Home Mortgage campus in Minneapolis

Wells Fargo is moving out of and selling its large campus in the Phillips neighborhood of Minneapolis as the bank evaluates employees and office space needs.

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The IDS Center's owner is facing a May 1 deadline to repay a more than $154 million mortgage balance on the iconic downtown Minneapolis office tower, according to financial filings. bizjournals.com/twincities/n…

IDS Center’s owner refinancing mortgage ahead of May 1 deadline to repay $154 million balance

The owner of downtown Minneapolis' IDS Center, Accesso Partners, is working with a lender to refinance the property ahead of the May 1 due date.

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Kelly Busche retweeted
Kelly Busche@KellyBusche
21 Mar 2023
EXCLUSIVE: UnitedHealth Group Inc.’s (NYSE: UNH) headquarters building in Minnetonka is on the market, either for sale or lease. In a statement, UnitedHealth said, "Minnesota remains our home." bizjournals.com/twincities/n…

Landlord lists UnitedHealth Group’s Minnetonka headquarters for sale or lease

In a statement, UnitedHealth said "Minnesota remains our home."

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Two major Edina stories for you: Enclave Cos. wants to tear down the Macy's Furniture store and construct two office buildings & two apartment buildings on the site. (1/2) bizjournals.com/twincities/n…

Macy's furniture store in Edina to be demolished, developer plans hundreds of apartments, two...

West Fargo-based Enclave Cos. has plans to buy the Macy's Furniture store property in Edina and redevelop it into a mixed-use site.

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Across the street from Macy's, Orion Investments is planning a new upscale hotel with ~150 rooms, destination restaurant & rooftop bar. (2/2) bizjournals.com/twincities/n…

Upscale Edina hotel with rooftop bar now part of Orion Investment's France Avenue redevelopment

The boutique-inspired hotel will have up to 150 rooms along with a ballroom, corporate meeting rooms, destination restaurant on its ground-floor and a rooftop bar.

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The new owner is Wells Fargo Bank, which placed the only bid on the downtown Minneapolis hotel during today's auction. bizjournals.com/twincities/n…

Hilton Minneapolis sold at foreclosure auction for $225 million to Wells Fargo

The new owner of the hotel is Wells Fargo Bank, which placed the only bid on the downtown Minneapolis hotel.

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Kelly Busche retweeted
Minneapolis/St.Paul Business Journal
@MSPBJnews
7 Mar 2023
The historic Minneapolis venue will begin welcoming guests to live shows in May. bizjournals.com/twincities/n…

Renovated Uptown Theater opening in May, announces lineup of events, concerts

The Uptown Theater will hold its first event May 5, with five public events on the schedule already.

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Kelly Busche retweeted
Dirk DeYoung@mspbjeditor
27 Feb 2023
Big scoop from @KellyBusche on the difficult financial state of St. Cloud's biggest shopping mall.
Minneapolis/St.Paul Business Journal
@MSPBJnews
27 Feb 2023
Brookfield Properties, the owner of Crossroads Center, faces a looming deadline to repay a more than $83 million mortgage balance on the shopping mall. bizjournals.com/twincities/n…
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Kelly Busche retweeted
Brianna Kelly@briannarkelly
17 Feb 2023
I visited multiple downtown Caribou Coffee locations today and talked to employees about planned closures. Some told me they were informed a few days ago that the shops where they work will close in March. bizjournals.com/twincities/n…

Caribou Coffee closing at least four downtown Minneapolis locations

Caribou Coffee is significantly shrinking its footprint in downtown Minneapolis.

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My dispatch from the Minneapolis Downtown Council's annual meeting: Downtown's population grew by 1% last year – a lower rate of growth than seen in previous years. Still, optimism abounds with rising office activity & new construction permits. bizjournals.com/twincities/n…

Downtown Minneapolis office workers return, but population growth slows

Downtown Minneapolis has made several steps forward in its post-pandemic recovery, but the rate of population growth slowed in 2022, according to a presentation by the Minneapolis Downtown Council.

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Kelly Busche retweeted
Mark Reilly@mspbjReilly
6 Feb 2023
In December, @briannarkelly and @KellyBusche asked, "What's up with all the half-built Amazon Fresh stores?" bizjournals.com/twincities/n… Amazon didn't comment about the apparent holdup then, but now they have via @MSPBJnews

Those Minnesota grocery stores that look like Amazon Fresh? Here's where they stand.

The list of suspected Amazon Fresh stores planned in the Twin Cities has grown since late 2020 — but none of them have opened their doors. Landlords and local officials say they're in the dark, too.

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Minneapolis/St.Paul Business Journal
@MSPBJnews
6 Feb 2023
Amazon will pause its rollout of new Fresh stores as it seeks "differentiation and economic value that we like," its CEO said. There are at least a half-dozen potential Amazon Fresh locations in the works around the Twin Cities. bizjournals.com/twincities/n…
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Brianna Kelly@briannarkelly
24 Jan 2023
Two of the longest-standing retailers in downtown Minneapolis see safety and foot traffic, which impact sales, as the biggest issues facing stores. bizjournals.com/twincities/n…

Downtown Minneapolis is losing its retailers, but why?

Two of the longest-standing retailers see safety and traffic, which impacts sales, as the biggest issues facing stores. But what does the data say?

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Today's scheduled foreclosure auction of the Hilton Minneapolis was postponed, which, according to a source, is a common occurrence with sheriff's sales bizjournals.com/twincities/n…

Auction of Hilton Minneapolis hotel postponed on Friday

The 826-room hotel was scheduled to be sold at auction Friday morning at the Hennepin County Sheriff's Office. There's no word on a new scheduled date.

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Exclusive: Thomson Reuters has decided to market a sizable portion of its 263-acre Eagan office campus for sale and is now on the hunt for a new office in the Twin Cities. bizjournals.com/twincities/n…

Thomson Reuters lists 179 acres of Eagan office campus for sale, starts search for new office

Thomson Reuters is now on the hunt for a new office in the Twin Cities.

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Kelly Busche retweeted
Minneapolis/St.Paul Business Journal
@MSPBJnews
10 Jan 2023
Parking meter activity downtown has not quite rebounded from the pandemic, but some neighborhoods are much farther to recovery than others. bizjournals.com/twincities/n…

What Minneapolis parking meters show us about business recovery in downtown, North Loop

Parking meter activity downtown has not quite rebounded from the pandemic, but some neighborhoods are much farther to recovery than others.

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.@briannarkelly & I followed up on the Twin Cities' seven potential Amazon Fresh stores, finding that city officials are in the dark about their status and projected opening dates. bizjournals.com/twincities/n…

Those Minnesota grocery stores that look like Amazon Fresh? Here's where they stand.

The list of suspected Amazon Fresh stores planned in the Twin Cities has grown since late 2020 — but none of them have opened their doors. Landlords and local officials say they're in the dark, too.

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Piper Sandler & Co., which at one point was thought to be leaving downtown, just signed a 113k SF lease for the new North Loop Green that's going up next to Target Field bizjournals.com/twincities/n…

Piper Sandler moving headquarters to Hines project in Minneapolis' North Loop

Piper Sandler plans to leave the downtown core — but it's not leaving Minneapolis, instead signing a lease for a new, mixed-use development near Target Field.

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Redevelopment may finally happen for several vacant Sears stores in the metro, including the St. Paul store (next to the Capitol) & those at Maplewood Mall and Burnsville Center bizjournals.com/twincities/n…

Vacant Sears stores in St. Paul, Burnsville Center, Maplewood Mall listed for sale, pitched as...

The three properties could eventually be home to multifamily, retail, commercial, medical or hospitality uses, according to Colliers. Colliers’ Minneapolis and New York offices have the listings.

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Kelly Busche retweeted
Brianna Kelly@briannarkelly
8 Dec 2022
Marshalls plans to close its downtown Minneapolis store in mid-January, on the heels of Nordstrom Rack's exit. bizjournals.com/twincities/n…

Marshalls store to close in downtown Minneapolis' City Center

A company spokesperson says the store — one of the last big apparel retailers in downtown — is expected to close Jan. 14.

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