Can’t Sell It?  Sub-Divide It!

As has been painfully noisily clear the last week or so, the landlord’s solution to filling the hard-to-lease retail space — directly below the Edina Realty – City Lakes office in Calhoun Village — has been to subdivide it.

So, instead of the 3,000 square foot-plus space formerly occupied by Hollywood Video, there are now three spaces of about 1,000 square feet each.

Why is that smart?

In a soft economy, it’s easier to lease three, modestly-sized spaces than one expensive space.

Is something similar happening in residential new construction?

You betcha (see, “Downsizing Developers:  ‘Stayin’ Alive’).

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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