Posted by carlson on January 21, 2019 in Uncategorized

We’re starting the new year with some exciting news. First, we’ve changed our name from Carlson Commercial to Carlson Partners. The new name better reflects our growing company, which now provides opportunities for our senior real estate experts to become partners.

Second, Tim Olsen, most recently our senior vice president – and with us since 2014 – is our first official partner. Ted Carlson, president at Carlson Partners, described how the changes further fortify our team’s ability to provide highly tailored, superior consultative services.

“We’re committed to delivering the most strategic consultation and market expertise to our clients, so it’s essential for us to retain and acquire advisors like Tim, who have great talent and experience to share.”

Tim is very dedicated to our company and our clients. He’s an industry veteran with a 15-year track record that includes working with many national, regional and local companies. He specializes in tenant representation, lease negotiations, real estate acquisitions, consolidations, and advisory services.

“I’m honored to be named a partner. While taking care of clients is always my first priority, continuing to grow my practice at a company with like-minded team members is very important to me.” Tim added that providing best-in-class real estate advice, while bringing on new team members, remains the firm’s first priority.

Tim is a graduate of St. Cloud State University. In addition to being a Minnesota licensed real estate broker, he is a member of the Minnesota Commercial Association of Realtors (MNCAR), the National Association of Industrial and Office Properties (NAIOP), and he has earned a Society of Industrial and Office Realtors (SIOR) designation.

Outside the office, Tim’s a devoted Minnesotan. He enjoys bow hunting, upland hunting, competitive hockey and giving back to the community. He’s on the Cystic Fibrosis Board for the Minnesota and Dakota chapters. In 2016, the Cystic Fibrosis Foundation selected him as a “Twin Cities Finest” for his philanthropic efforts and professional success.


Posted by carlson on April 11, 2018 in Uncategorized

We’re excited to welcome a new member to the Carlson Commercial team. Connor Nichols is joining us as an associate, bringing with him the entrepreneurial spirit and positive energy that we know will translate into success for our clients.

Connor started his career early and has shown a remarkable amount of persistence and natural savvy about the real estate business. Connor built a residential real estate business from the ground up after working in construction in high school. He never stops looking for opportunities, and isn’t afraid of putting in the time and effort to get the job done right. We’re confident that his strong work ethic and the knowledge he’s gained from his unique experiences will make him a great asset to our commercial team.

“We knew Connor would be a great fit for our team from our first meeting,” said Ted Carlson. “He has a knack for finding opportunity in a market, and he’s ready to bring that experience to our commercial clients. And he’s fun to be around. We’re truly looking forward to working with him. ”


Posted by carlson on March 22, 2018 in Market Update, Uncategorized

Vacancy and Absorption Trends

2017 ended strong for the Twin Cities industrial market. The 4th quarter saw 1.1 million square feet of positive absorption, which was by far the strongest quarter of the year. Net absorption totaled 2.36 million square feet for the year. This puts 2017 slightly below the positive pace of 2016 and 2015 but still well above annual averages of the past 15 years.

Vacancy rates continued to remain at all-time lows as demand for industrial space outpaced new supply. The metro-wide vacancy rate of 6.6% is below 3rd quarter’s mark of 6.8% and has improved from the 2016 year-end figure of 7.0% vacant.

The Southwest and Northeast submarkets stood out as the best performers of 4th quarter. The Northeast continued to benefit from some of the most centrally-located new industrial developments throughout the metro area. Those developments, including Northern Stacks, positioned the Northeast as the leading submarket in terms of net absorption both in 4th quarter and year-to-date. Within the Southwest, Shakopee accounted for 375,000 square feet of positive absorption with new construction completions. Year-to-date, the Shakopee-led Southwest submarket recorded the second highest total absorption of all five submarkets.

Construction has continued to be one of the main drivers of large-scale leasing activity in the metro. As the overall vacancy rate continues to drop and the demand for industrial users rises, new construction is often times the only option for users of a certain size.

Fourth quarter 2017 saw 1.65 million square feet of industrial construction completed – significant for year, yet alone one quarter. Year-to-date, a total of 2.9 million square feet of industrial space was completed, with 1.75 million of that multi-tenant product. The year-end construction total is roughly in line with the prior three years which saw approximately 3 million square feet completed each year.


There is an additional 2.5 million square feet of industrial space currently under construction and expectations are for several new speculative multi-tenant projects to be announced soon. Estimates show 2018 recording more total square feet of new construction than 2017.

In terms of rental rates, average asking rates are $4.91 psf for warehouse space and $8.97 psf for office. Rates have remained consistent on the macro metro-wide scale for the last two years. New construction is continuing to receive a 10-15% premium. While overall rent is not increasing, there has been a decrease in concessions granted compared to previous years, effectively raising total real estate costs for tenants.

Market Insights

The Real Cost of Labor Shortage

The most recent unemployment figure for the Twin Cities metro area is 2.4%, which is the lowest unemployment rate in the nation for metro areas with over one million in population. This puts the Twin Cities significantly below the full employment figure. Anything below full employment means that companies are being negatively impacted by losing opportunity and work, which should be a cause for concern. Main job sectors finding it difficult to find qualified employees are the trades and manufacturing, including many industrial focused tenants.

From a real estate perspective, it is even more important for tenants to be located where they have the best chance of finding workers. Firms spend a significantly higher amount on wages than real estate, so added rental cost of a location that is more desirable from a recruitment standpoint is dwarfed by total cost of paying more in wages to lure employees.

A hypothetical company with 100 employees in 100,000 square feet paying $15 per hour is spending four times more for labor annually than total gross real estate. For every dollar they would have to pay to attract an employee due to poor location, it would be the equivalent of raising rent by $2 per square foot. When industrial average rates are in the neighborhood of $4.50 per square foot to start with, paying even a slightly higher rate for a better location could save costs in the long run.


Posted by carlson on May 30, 2017 in Uncategorized

We know our team is one of the best in the business, and we’re thrilled that one of our own is getting some well-deserved recognition. Stephanie Lee, a stand-out commercial real estate broker and strategist at Carlson, is a 2017 Women in Business award winner. The awards are sponsored by the Minneapolis/St. Paul Business Journal, and honor industry-leading executives and entrepreneurs.

Read the full article from the Minneapolis/St. Paul Business Journal

2015: The Year in Review

Posted by Christine Lund on January 4, 2016 in Uncategorized

Carlson Commercial Group Shots-2 (1)New faces. Big deals. New offices. And a merger.

There were a lot of exciting developments at Carlson Commercial this year, making 2015 one of our best so far.  Amy Carlson joined Carlson Commercial as CEO this year, bringing a fresh perspective and added experience to our team along with visionary leadership to the company. “My role is to lead our company and focus on long term strategies for growth, pursue national accounts, and link my retail expertise with the industrial, medical and E-commerce expertise of our team,” said Amy.

We moved our offices to a new, inviting modern space in Edina to be accessible to our clients and convenient for our team. Our merger with Gannett Peak Partners strengthened our strategic and collaborative team and is allowing us to differentiate in a competitive market.

We had several new clients join our roster this year, including HD Supply and Caterpillar. In addition, our team worked throughout the year to find solutions for existing clients, signing deals in Minnesota for Verizon Wireless, Flint Hills, EMC Minnesota, and FedEx, among others. We continued our work with Gopher Resource in Tampa, Florida and strategically secured them a 107,000 sq. ft. warehouse, making for a big win for both Gopher Resource and Carlson Commercial.

The outlook for 2016 is equally bright, and we look forward to building on the momentum of a successful year. “The company has grown and we have some exciting things on the horizon,” said Carlson.

Growing Carlson Commercial Becomes Its Own Client

Posted by carlson on December 18, 2015 in Uncategorized


Carlson Commercial Group Shots-12Carlson Commercial had to meet the needs of its most discerning client yet on this project: itself. Since launching in 2011, the firm has been on a rapid growth trajectory, maxing out its Eagan, MN, location. We needed more space, with more options to reconfigure for individual and collaborative projects.

The CC team put its expertise to work! We led our leaders through the same strategic process we use with clients to closely evaluate and prioritize our needs, including space for additional growth and a convenient location for our team and our clients. The result:  finding an awesome 1,434 sf space in an easily accessible, customizable, central location in Edina, MN. Then, we built-out to include many of the modern touches our clients want: reconfigurable workspaces, collaborative environment, sit/stand desks, and an edgy, industrial-theme design. Needless to say, our “client” is thoroughly enjoying the result.



Carlson Commercial Gives Back

Posted by Christine Lund on December 16, 2015 in Uncategorized


At Carlson Commercial, we believe in giving and getting involved. Every year, we set aside time and money for organizations that we are connected to, either personally or professionally. In addition, we regularly donate a portion of fees on behalf of our clients to organizations that are important to them.

“We are dedicated to the clients and communities we serve.  We believe that philanthropy is a measure of our business performance and we routinely donate a portion of our fees to local area nonprofits, ” said Amy Carlson, CEO. There’s a story behind every contribution. Here are a few:

One Village Partners ( works as a catalyst to transform rural villages into empowered, self-reliant communities. Phil Kluesner, senior vice president, not only contributes financially to One Village Partners he motivates the whole Carlson Commercial team to help with their annual real estate fundraising breakfast.

Ted Carlson, president, values his connection with organizations where he contributes his time and energy. As a board member of Lifeworks (, he’s devoted to their mission to provide people with disabilities with opportunities for meaningful work.

Organizations we supported in 2015:

University of Wisconsin Real Estate Alumni

Gigi’s Playhouse

University of Wisconsin School of Business

Lifeworks (sponsorship and technology pledge)

Camp Fire

Pancreatic Center Action Net

Create a Memory

City of Hope

Children’s Hospital

One Village

St. Jude

American Cancer Society

YMCA Camp Widjiwagan


Wounded Warriors