A new skyscraper for Minneapolis?
Don't let the empty storefronts on Hennepin Avenue fool you, downtown Minneapolis need more office space. Expensive office space, that is. In its commercial real estate section, the Business Journal reports that developers are mulling over the prospect of a new tower in the near future. "I see 2007, 2008 and 2009 as years of gradual improvement in the office market," said Steve Chirhart of TaTonka Real Estate Advisors. That means downtown's vacancy rate will plummet from 17.3 percent to something lower, perhaps prompting construction of a skyscraper that could reshape and enliven the downtown skyline.