RE Journals: Pandemic? Even it couldn’t slow commercial development in 2021

Few commercial real estate professionals – few people at all, in fact – will look back fondly on 2021. That’s thanks to the COVID-19 pandemic, which continued to upend life throughout the country.

Add in the supply chain shortages that have come with the pandemic, and bringing commercial buildings to life in 2021 has not come without challenges.

But not even the pandemic could bring commercial real estate development to a halt in the Twin Cities area. Despite the struggles brought on by COVID-19, developers throughout Minneapolis, St. Paul and their suburbs continued to bring multifamily towers, distribution centers, warehouses and mixed-use developments to the Twin Cities.

And 2022? It looks to be even busier as several new projects come online throughout the market.

We recently spoke to three commercial real estate professionals about a busy, if challenging, 2021 and their hope for the new year, Anne Behrendt, chief executive officer and principal with Bloomington, Minnesota-based Doran Companies; Tony Kuechle, president of development with Doran Companies; and Paul Hyde, co-founder of Hyde Development in Minneapolis.