Tenant Application (Midtown Global Market)

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Midtown Global Market Lease Application

The Midtown Global Market (MGM) is an internationally themed public market located within the Midtown Exchange Building (the former Sears building) on Lake and Chicago, in South Minneapolis. It features an outstanding assortment of products from around the world and around the neighborhood. We draw customers from three main sectors: the immediate neighborhood (including the 350 housing units inside the historic building), the employees and guests of nearby corporations (Abbott Northwestern Hospital and Allina corporate headquarters), and a regional draw of customers interested in high quality cultural experiences. The Midtown Global Market opened in mid-2006 and draws in excess of 1,200,000 visitors per year.

We are always seeking outstanding businesses to rent spaces within this public market. We are asking applicants that best fit our market concept (guidelines below) to submit the following application, to allow our team to better understand your business. Applications will not be reviewed until application all required materials are submitted. Applicants may need to supply more detail if requested (financial information, business plan, etc.).
Requirements
The following materials are required from all applicants to be considered for full review:
  1. Completed Potential Tenant Application (this form). 
  2. A Business Plan that covers all requested information.
  3. Past 3 years of business tax returns.
  4. Current balance sheet and income statement for your business.
  5. Other materials you believe will explain your current business and your proposed business to our NDC Development Team.
All information will be kept confidential. Please submit these materials to the contact below, who is also available to answer questions and assist you to the best of their ability with completing the questionnaire. All information will be treated confidentially and reviewed only by the NDC Team.
The Leasing Process
  1. All applications must initially fit within the Concept Guidelines stage of the leasing process and will be reviewed by the owner's representatives and if approved, will move on to the second stage of the process.

  2. Second stage of the leasing process---Due Diligence. NDC staff does an in depth business plan review of the five required items above. 

  3. The final stage of the leasing process is the approval or denial of the application. If an application is accepted, a lease will be negotiated.
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The Leasing Process
  1. Midtown Global Market is owned by two non-profits:
    • Neighborhood Development Center: 663 University Ave., Suite 200 St Paul, MN 55104
    • Cultural Wellness Center: 2025 Portland Ave. S., Minneapolis, MN 55407
  2. All applications must initially fit within the Concept Guidelines stage of the leasing process and will be reviewed by the owner's representatives and if approved, will move on to the second stage of the process.

  3. Second stage of the leasing process---Due Diligence. The more information an applicant can supply initially, the quicker the due diligence can proceed. This most definitely applies to the more complex of applications - such as a restaurant.

  4. The final stage of the leasing process is the approval or denial of the application. If an application is accepted a lease will be negotiated. All applicants (approved or not) will abide by the Rules, Regulations and Code of Conduct of the market.

  5. The following will be required from all applicants:
    • Non-refundable $50 fee (payable to Midtown Global Market LLC)
    • Completed Tenant Application Questionnaire
    • Past three (3) years of business tax returns (if applicable)
    • Balance sheet and income statement is needed (if applicable)
    • Two (2) year cash flow projection for your location in Midtown Global Market
    • Authorization to review credit history
    • References 
    • Other materials you believe will explain your current business and your proposed business in the Midtown Global Market
Please fill out the following questions as completely as possible. The following questions are intended to give us information on your operation at the Midtown Global Market. If you prefer to write a business plan for this new location, please attach as part of your application.
Personal Contact Information















For more than one race/ethnicity, select "Other".

Business Information




Use Ctrl+ to select more than one category if needed.

Please specify above.










Only enter info@ or contactus@ for general/generic business email address.
(E.g., name, account number, phone number)

Information About Your Current or Past Business

General Questions 







Products



Enter amount, no comma or dollar sign needed.

Your Plans for The Midtown Global Market

Customers

(E.g., marketing plan)



Operation and Management





Equipment and Improvement
(Specifically grocery and restaurant use)
To select more than one item, hold down the "Ctrl" button on your keyboard.



(E.g., for what type of items, dry storage or cool storage)
Start-Up Cost
How much do you anticipate it will cost to open your business in the market:
What do you purpose to spend?
Financial Resources
Please list all sources from where you will acquire this money:
By signing, I agree to the following terms:
  • That completing the application form does not guarantee or imply acceptance of the application.
  • Permission is granted to Neighborhood Development Center on behalf of the Midtown Global Market to review your credit history.
The next screen will allow you to review your entries. At the bottom, you'll have the opportunity to sign your form. Once you have "signed and submitted" your e-signature, you will receive an email with a verification link. You will need to click on the link (or copy and paste the link into their browser's URL) to finish the verification process. After you click the link, you will receive a final email confirmation. This email will contain a link which allows you to view a record of the e-signature.

Note: Check your spam folder to ensure you received the email with the verification link.
E-Signature