[Mpls] IDS tower sold

[David Brauer]

On Nov 11, 2004, at 12:26 PM, Victoria Heller wrote:

> Even more intriguing is the fact that the Midwest Plaza building 
> (attached
> by skyway to the IDS building) has dropped 50% in taxable/market value 
> over
> the past five years to a current $8.9 million.  True, it's smaller 
> than the
> IDS, but it's not just a blip on the sidewalk.

I think the point is that Mpls real estate goes up as well as down. It 
isn't all negative examples, as some suggest.

I have questions into the assessor's office about how they perform 
valuations, especially on recent sales.

But regardless of the "developing" (for years on this list) "scandal" 
about assessments, at least we can do away with the notion that it's 
only bad times and fleeing businesses/investors in Mpls's future. 
Clearly,  there are many heavyweights rushing in.

By the way, did anyone notice that Gander Mountain recently lost 25 
percent of its stock value ? This is AFTER St. Paul threw $700,000 at 
the company to relocate there. Remember this the next time anyone says 
Minneapolitans should replicate the Capitol City's corporate welfare 
policy.

http://www.startribune.com/stories/535/5077387.html
http://www.bizjournals.com/twincities/stories/2004/09/20/daily37.html

David Brauer
Kingfield