Bender Commercial Real Estate Services is proud to present our Mid-2016 Market Report. After an informative year end report in February, it is benificial to both our company, as commercial real estate advisors, and to the business community to take a mid-year snapshot of how the first part of 2016 is looking. Below is our mid-year overview of the conditions of the Sioux Falls Office, Retail and Investment Markets. Mid-2016 Sioux Falls Market Report
Michael Bender and Nick Gustafson recently sold a 117,106 sq. ft. parcel of commerial land on the northwest corner of West 69th Street and Connie Avenue. The parcel sold for $10.30 per square foot. Michael and Nick represented the Seller in the transaction.
Titan Machinery will break ground this fall on a new 20,000 square foot building on 12.11 acres located in the Sioux Empire Development VII in northwest Sioux Falls. This location will consolidate their two currently locations at 4201 North Cliff Avenue and 6308 West 12th Street. Rob Fagnan represented Titan Machinery in choosing this location and the deal was four years in the making. Titan Machinery owns and operates a network of full-service agriculture and construction equipment dealerships in the United States and Europe.
Reggie Kuipers of Bender Commercial Real Estate Services recently assisted SMA, LLC in leasing a 3,123 square foot office building. Their new location is at 2925 East 57th Street in southeast Sioux Falls. SMA, LLC is a construction company that specializes in agricultural projects.
Doug Brockhouse, SIOR represented Jeff Smith in the sale of the property located at 804 Cherokee known as Moberly Printing. Moberly Printing will be leasing back the property for a short period of time until the business can be relocated in the city. The property is being purchased by a company that will be involved in the production of brewing supplies for the craft beer industry.
Doug Brockhouse, SIOR and Michael Bender CCIM, SIOR recently closed on the sale of a six acre parcel of I-1 Light Industrial land in the Boyce Park Development. Boyce Park which was formerly known as South Dakota Land and Tech Park, Journey Land, and Sioux Falls Construction Land is a fifty acre development at the intersection of West Madison Street and North Marion Road. Boyce Park has been rough grading the fifty acre development and some of the street are now under construction.