Commercial real estate is always evolving, shaped by shifting market trends, new developments, and the vision of those investing in our communities. From office spaces and retail centers to industrial properties and mixed-use projects, the landscape reflects both economic momentum and the changing ways people live and work. As our region continues to grow, so too do the opportunities and challenges in commercial real estate.
Mike Allmendinger
President @ Kilbourne Group
Q: What’s your Company’s Development Philosophy?
A: Kilbourne Group believes vibrant neighborhoods are the foundation of strong, healthy cities. We approach every project with a commitment to thoughtful design that balances walkability with the realities of car travel, always keeping quality of life at the center of our work.
Q: How do you balance preserving historic character with pushing modern design downtown?
A: Much of our work has centered on transforming surface parking lots into mixed-use infill developments. For us, smart design means honoring architectural history, fostering local culture, and integrating contemporary design in ways that strengthen the downtown core.
Q: What’s next for downtown Fargo in your eyes?
A: Downtown Fargo is one of the city’s greatest assets—for residents and visitors alike. We see tremendous opportunity to continue growing its housing and business options in all directions, and we are excited about the future vibrancy that lies ahead.
Q: Which past or current project best represents your company’s vision?
A: RDO Tower and Broadway Square embody our vision of community-driven development. After more than four decades as a surface parking lot, the RDO Tower now rises 18 stories and provides ground-floor retail, dining, hotel space, offices, and residential condos. Paired with the year-round public gathering space of Broadway Square, these projects showcase how mixed-use infill can create a vibrant neighborhood when the city, developers, and community collaborate.
Q: How do you measure the success of a project beyond financial return?
A: Success is when a once-empty space becomes a thriving, 18- hour hub of activity. Housing, dining, retail, and entertainment all add layers of energy that turn projects into lasting assets for the neighborhood
Q: How is the housing market influencing commercial development?
A: In Fargo and peer cities, there is strong demand for housing that emphasizes vibrancy and walkability. Mixed-use developments that combine residential and commercial space are increasingly valued by city leaders as a way to retain residents and attract a talented workforce. This demand continues to drive development across the region.
Q: How do you ensure your projects fit the culture and fabric of the neighborhood?
A: We begin each project by listening—seeking to understand the community’s vision for its future. Through careful planning and open dialogue, we create developments that complement existing culture while contributing to the long-term vitality of the neighborhood.
Q: What role do public– private partnerships play in your work?
A: Partnerships with the City of Fargo have been essential in transforming surface lots into vibrant mixed-use spaces. By combining innovative design with strategic planning, public–private collaboration helps make these ambitious projects possible.
Q: What kind of community feedback do you seek, and how does it shape the outcome?
A: We believe a project succeeds when the community wants it to succeed. That’s why engagement is central to our process. For example, with The Avery, we collaborated with neighbors, North Dakota State University, the City of Fargo, and the Fargo-Moorhead Community Theatre to create a dynamic development that reflects and supports the aspirations of the neighborhood.
The Avery is a major infill project on the 600 block of NP Avenue that pairs about 168 new apartments with a city-owned parking ramp (roughly 470 stalls) and a modern home for FMCT (around 400 seats), all led by Kilbourne Group in partnership with the city. Named for the historic Avery Tractor Company once on the site, the block is designed to boost downtown’s live-work-play core—adding housing, cultural space, and park-once convenience.
Groundbreaking was May 1, 2024, and the six-story ramp—now largely up—anchors the phased buildout of the residences and theater. More district move than single building, The Avery aims to keep downtown Fargo vibrant, walkable, and growing.
Q: What kind of community feedback do you seek, and how does it shape the outcome?
A: We believe a project succeeds when the community wants it to succeed. That’s why engagement is central to our process. For example, with The Avery, we collaborated with neighbors, North Dakota State University, the City of Fargo, and the Fargo-Moorhead Community Theatre to create a dynamic development that reflects and supports the aspirations of the neighborhood.
Q: Have you seen shifting tenant or resident priorities?
A: Through Centric Management, our property management arm, we regularly gather feedback from residents. Lately, we’ve seen a shift toward people wanting to live independently while staying closely connected to an active community. Many value being near downtown Fargo’s entertainment, dining, and wellness options, where everything they need is just a short walk from home.
Q: What kind of team culture helps you thrive in development?
A: Kilbourne Group is a small but passionate team of just over 30 people. From property management to construction to development, every team member is driven by the same purpose: creating welcoming spaces for people and businesses alike. Our collaborative spirit and shared passion for service fuel everything we do.
Kilbourne Group
kilbournegroup.com
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Kevin Christianson
President @ Christianson Companies
Q: What would you say your company’s development philosophy is?
A: First and foremost, it’s to do projects that make sense and impact the community. We’re not just doing projects to do projects anymore—we haven’t for a long time. I’m really into what the numbers look like at the end of the day and how feasible the project is, not just doing a development.
Q: Could you verbalize what “Community Impact” looks like for you?
A: It’s fun to do projects like in Osgood, where we donated land for a golf course and ended up with an awesome community. Osgood was 30 people back in the day, and now it’s several thousand. Adding things like Kingpinz and Suite Shots in Timber Creek—new lifestyle opportunities so people can stay here. It’s fun to be involved in projects like that, and in new land developments to create housing opportunities.
Q: What projects are you currently working on in the area?
A: We’ve still got quite a bit of commercial development going on, though it ebbs and flows. We’re currently doing our first active-living facility on 40th Avenue South and 45th Street, next to Living Waters Church. It’ll have pickleball courts, a sauna, a hot tub, a theater, and a library. It’s kind of a combination between a hotel and an apartment, with underground parking.
It’s our first foray into that market. We’ve been doing a lot of storage facilities around the country and opened one on 52nd Avenue last year.
SpringHill Suites—opened in February, and we’ve probably already got an addition coming this spring. We recently held a groundbreaking ceremony for a large corporate headquarters for another company. I’ve got several other projects I probably can’t mention, but lots of things in the works.
Q: You’ve had success with your models. Why do the active-living facility now?
A: Multifamily right now doesn’t make financial sense for us to develop. This is a whole different market and price point—and it’s changing things up rather than doing what everyone else is doing. We typically migrate to what makes financial sense, like I said earlier— not just do something because that’s all you know how to do.
Q: Why doesn’t Multifamily make Sense right now?
A: The cost of development versus what you get for rent. The rent isn’t high enough to support the development cost, and higher interest rates don’t help. Both the project cost and rates impact what we do. Right now, we’re doing more things where we have more control.
Q: That’s interesting— especially because we have a housing shortage, right?
A: Yeah, and that’s a tough issue. You’ve also got to be able to afford the housing. That’s the misnomer— everyone wants affordable housing, but everything’s getting more expensive. There are vacancies in all sectors, but it’s about whether you can afford that model. New stuff is hard to build today with costs and rates. Bank rates coming down helps a lot.
Q: What past or current project best represents What you do?
A: I like to go back to Osgood—a well-rounded project with housing for different demographics. We start with more modern first-time homebuyer stuff, some multifamily, then second- and third-homeowner markets, and eventually up to highend homes. Add the golf course, Hornbacher’s, and retail support— it’s a whole community. That one is 900 acres. We’ve done a lot of developments, and that’s the one I’m most proud of because it has everything.
Q: Culturally, what’s important for your business? What tone do you set?
A: I’ve got 7 people who’ve been with me over 20 years. Taking good care of people and having a great core group makes life easier.
Knowing everybody and being involved in some aspect of their life outside of work is good, too. We do a lot of fun stuff, not just work—it keeps the team together. Lead by example and be involved in everything we’re doing.
Did You Know?
The Christianson Companies headquarters is also home to Property Resources Group, Design Resources Group, Spotlight Media, as well as other businesses.
Q: What group stuff do you do with the team?
A: In 2007, when real estate was tanking, we recalibrated our approach to retaining staff. So I offered gym memberships with a coach for whoever wanted it. They go as a team—maybe three people from different parts of the office. We still do that. We started summer barbecues every Wednesday— Memorial Day to Labor Day. Groups from different parts of the office put together the menu and cook— fun for everyone. We do that once a week in summer, plus concerts and other events.
Q: You have lots of projects around the country. What excites you most outside the Fargo area?
A: We’ve been doing stuff in Alaska— it’s kind of the last frontier. We’ve got projects in California and Alaska.
Q: What specifically in Alaska?
A: Car washes. We have one open that should be the number one in the whole system in the next year or so—it’s off to a really good start. A second is under construction. Logistically it’s interesting—makes it fun to do things differently than in the lower 48.
Q: What part of the metro has the most untapped potential?
A: Everything’s going south and west. It’ll start going south and east more when the diversion is done. There’s a big greenfield that’ll open up in four years. That’s where I see opportunity—Fargo marching south.
Q: Do you have a dream Project—something You’d like to do but haven’t had the opportunity?
A: We’ve got a fun one planned between 52nd and 64th Avenues on the west side of 45th Street, which includes Lake Fargo. The city is building a lake there now. We’re going to do an upper-end housing development—more like Osgood with a mix of housing. We have other proposals out and a good opportunity to expand retail to the south. That would catalyze the whole area—new, exciting projects. That’s a big one I’d like to get done.
Christianson Companies
Jim Bullis
President/CEO @ EagleridgeDevelopment
Q: What’s your company’s development philosophy?
A: We believe in building the best products in the best locations. Full stop.
Q: How are you Positioning for the Next decade of growth In Fargo–Moorhead– West Fargo?
A: Large tracts of land can take years of work in the background before the first shovel hits the ground. At any given time, we are at various stages of the entitlement or design process required to move a development forward. We are excited about a number of new communities we are currently working on in south Fargo, which we think will be a great addition to the FM community. As these neighborhoods build out, we anticipate these areas seeing more commercial and multifamily growth as well.
Q: As primarily a land/ community developer, what do you look for in partners on vertical builds?
A: We are not merchant builders. We plan on owning our buildings for a long time, which means that we don’t cut corners and require the same level of attention to detail from all of our subcontractors. Additionally, we try and work with homebuilders who share our construction philosophy to ensure that the build quality is consistent throughout the development.
Q: Wwhich past or current project best represents your company’s vision?
A: I would have to say EagleRidge Plaza. We are only about half done with the overall campus, but the office, retail, and residential components of this project really have no equal in the Fargo market.
Q: How do you measure the success of a project beyond financial return?
A: I was raised in Fargo, and I raised my children here as well. Fargo is my home, and I can honestly say EagleRidge has never undertaken a residential subdivision or apartment community that we didn’t think would be an asset to the greater FM community. We want our projects to be places where our customers are proud to live. Making money is nice, but creating great projects is equally important.
Q: What trends are you seeing in commercial real estate demand (office, retail, mixed-use) in our metro?
A: The biggest change over the years has been the size of the space commercial tenants are looking for. We used to plan professional offices between 5,000 and 8,000 square feet. Now our customers are looking for much smaller spaces— usually between 1,000 to 3,000 square feet. That has been a big adjustment in our construction and space planning.
Q: How is the housing market influencing commercial development?
A: New residential development almost always precedes commercial growth. It is pretty simple: more people living in an area leads to higher traffic counts. Most commercial businesses need traffic to be sustainable.
Q: What opportunities or risks do you see with interest rates, construction costs, or workforce availability?
A: Well, right now, these are all areas of difficulty more than opportunity. EagleRidge is still building, though, and we have three new projects under construction in Fargo. We are big believers in the Fargo market and take a longer-term approach than most builders. Today, it’s difficult to see the value in new construction, but we build for our own portfolio and aren’t looking to sell our buildings anytime soon. We are of the belief that the prices we are paying for construction today will look like a good deal in a few years.
Q: How do you ensure Your projects fit the Culture and fabric of The neighborhood?
A: The Fargo metro area has done a tremendous job in preserving plenty of park open space and trail connectivity. We work hand in hand with the local park districts and cities as we design and build new neighborhoods to make sure we are adhering to their long-range master plans.
Q: What kind of community feedback do you seek, and how does it shape the outcome?
A: We believe that our customers are the best source of information as to how we are doing as a company. We regularly survey our customers with regard to things they like and things we can do better. We also ask for their feedback on their use of our community amenities and anticipated use of new amenities we are evaluating for our new projects.
Q: Have you seen shifting tenant or resident priorities?
A: Absolutely. Things that were a priority for our residents ten years ago are oftentimes out of date or no longer a part of their decision-making process. Telephone jacks in all the bedrooms and having units that were cable-ready were a big deal when we started. Not so much these days. Garages are another feature we build less and less of as time goes on. Now, most of our parking is structured, which takes away the storage that residents used to have in their garages. Fitness centers, golf simulators, and similar amenities are now sought after by renters and have become vital to the success of new buildings.
Q: What kind of team culture helps you thrive in development?
A: Our team consists of various divisions, including construction, development, legal, property management, and maintenance, who all work together as one unit, a family. Together, and outside of our work environment, we truly like to hang out together—hunting, fishing, golfing, conversing over dinner or cocktails—it’s genuinely a friends and family culture. Those close connections create an environment for success.
Q: If you could wave a magic wand and add one piece of infrastructure or policy shift, what would it be?
A: This will come as no surprise to anyone from the city who knows me, but if I could have one piece of infrastructure, it would be an interchange at 76th Avenue South. With the diversion soon to be completed, that will be the next big area of Fargo to be developed.
Q: What first drew you into real estate development?
A: I have always had an interest in real estate. I started my business career mowing lawns. One of my customers, Max Goldberg, had developed a large portion of south Fargo. I thought that was fascinating, and he was kind enough to spend quite a bit of time telling me about his work. I can be a slow learner, but apparently some of his advice must have stuck.
Q: What’s the toughest challenge you’re facing in this market right now?
A: Without a doubt, our toughest challenge is to provide a great resident experience at a reasonable price. Costs have skyrocketed over the last few years, putting the initial construction costs out of reach for many developers. To compound that challenge, our operating costs—taxes, insurance, and utilities have also risen dramatically. These increased costs have resulted in significantly higher rents. No one (including us) likes to raise rents, and the last few years we have had to make some pretty big increases. Many of our residents are on a fixed income, so this has been a challenge for all of us.
Q: What’s one area or corridor in the metro that you think has the most untapped potential?
A: I mentioned it above, but I would have to say 76th Avenue. That corridor links both the Davies and Horace High Schools and is the primary roadway from the Red River on the east across the entire metro area and over the diversion to the west. 76th Ave is a blank canvas and really has unlimited economic development potential.
Q: What local place or experience inspires you outside of work?
A: Fargo has a great network of walking and biking trails, which I use on almost a daily basis. It is a great way to unwind after work and see what is going on in the community. You meet a lot of interesting people and a lot of nice dogs too.
Eagleridge Development
eagleridgedevelopment.com
Facebook | /eagleridgecompanies
Instagram | @eagleridgecompanies
Andy Westby
President and Managing Broker @ Goldmark
Q: What’s your company’s development philosophy?
A: An important distinction is that Goldmark Commercial does not own or directly develop property for our own team. Our role is to represent clients and third parties, ensuring there’s no conflict of interest between our advice and their goals. When assisting with third-party development, our philosophy is simple: add value in every interaction and help clients create projects that stand the test of time. We believe in making data-driven decisions, listening closely to our clients, and ensuring developments strengthen the neighborhoods they are in. For us, success means creating spaces where businesses can thrive and communities can grow.
Q: How are you positioning for the next decade of growth in Fargo–Moorhead– West Fargo?
A: The Fargo-Moorhead metro is on the cusp of entering a new period of transformation. With the FM Diversion nearing completion and return-to-work initiatives reshaping how businesses operate, the landscape is shifting. Industrial growth corridors are pushing south, north, and west; office users are redefining their space needs; and developers are positioning for long-dormant land at the metro’s edge for residential and mixed-use projects. At Goldmark Commercial, we’re positioning for this future by capturing and analyzing more market data than anyone else in the region… perhaps even nationally. Our proprietary analytics allow us to advise clients, investors, and municipalities with precision, anticipate market shifts, and guide smarter long-term decisions. Just as importantly, we’ve built a culture of ultra-responsiveness and strong relationships, which we believe will be even more critical in a fastchanging, competitive market.
Q: What shifts are you seeing in tenant expectations right now?
A: In office, tenants are downsizing square footage but demanding higher-quality, amenity-rich buildouts. In retail, tenants are focusing on either value or highercost, experience-driven spaces and service-oriented uses that draw consistent traffic. In industrial, tenants are seeking taller clear heights, more dock doors, improved logistics access, and larger yard spaces.
Q: Wwhich past or current project best represents your company’s vision?
A: One project that represents our vision is our work with Packet Digital. Over the past five years, we’ve helped them expand from a modest headquarters into multiple facilities, including North Dakota’s first battery manufacturing plant. It reflects our ability to pair deep market data with responsive execution, guiding clients through each stage of growth and creating long-term value for both their business and the community.
Q: How do you measure the success of a project beyond financial return?
A: Our main questions are: Did it create long-term value for the client? Did it strengthen the surrounding community? Did it help shape future growth? A project is successful when it helps a business expand, creates jobs, or sparks further development in a corridor. Seeing a once-quiet area transform into an active, connected business hub is a huge reward in this business.
Q: What trends are you seeing in commercial real estate demand (office, retail, mixed-use) in our metro?
A: Office: Rightsizing rules the day. Companies are reducing square footage but upgrading space quality
Retail: Experience-driven tenants are still winning, while service and medical users are backfilling traditional retail.
Mixed-Use: Demand continues around strong anchors, but some new developments are taking longer to fill retail space than owners would like.
Q: How is the housing market influencing commercial development?
A: Housing growth is almost always the precursor for commercial growth, at least in terms of retail and office. As rooftops expand, especially in south Fargo, West Fargo, and Horace, retail, services, and employment centers follow. We’re watching carefully where schools are built, because schools drive housing, and housing drives commercial.
Q: What opportunities or risks do you see with interest rates, construction costs, or workforce availability?
A: Higher interest rates have definitely slowed some projects and development, but they’ve also created opportunities for creative deal structures. Construction costs remain elevated, so developers need solid underwriting and patient capital. Workforce availability is the wild card, as it directly affects which employers move or expand here. The good news is that Fargo’s workforce pipeline, with our universities and tech ecosystem, remains one of our strongest assets compared to many regional cities.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Q: What kind of community feedback do you seek, and how does it shape the outcome?
A: We listen to business owners, city leaders, and neighboring residents early in the process. Sometimes it’s as straightforward as parking concerns. Other times it’s about ensuring a development complements rather than competes with nearby uses. Those conversations save time and lead to projects that are welcomed, not resisted.
Q: What kind of team culture helps you thrive in development?
A: Our culture is built on collaboration, expertise, and responsiveness. We’ve assembled a team that includes backgrounds in architecture, law, lending, entrepreneurship, and brokerage. That diversity means we bring multiple perspectives to each project. Our culture is also intensely responsive, as clients know they’ll hear back quickly, and that builds trust.
Q: If you could wave a magic wand and add one piece of infrastructure or policy shift, what would it be?
A: If I could wave a magic wand, I would fast-track the I-29 interchange at 64th Avenue South. It would be a huge catalyst for development in a corridor already primed for growth with the Fargo Park Sports Center next door. I know many developers would also like to see adjustments to Fargo’s proposed Growth Plan, ensuring it aligns more closely with both developer realities and consumer demand.
Q: What first drew you into real estate development?
A: I grew up on our family farm in South Dakota, where my parents eventually started a small real estate business focused on rural homes and ag land. After spending more than 15 years in a technology career, I was drawn to the way they built trust and helped people complete meaningful transactions right in their own backyard. Commercial real estate carries that same appeal. Working with a wide variety of businesses and developments is never dull, and it’s deeply rewarding to see a piece of land go from a blank canvas to a completed project that serves a business and the community well.
Q: What’s the toughest challenge you’re facing in this market right now?
A: Balancing rising costs and tighter capital markets has made development more complex and harder to pencil for some. Deals take more creativity and more patience today. But those challenges also separate the serious, wellprepared players from the rest.
Q: What’s one area or corridor in the metro that you think has the most untapped potential?
A: The easy answer is the Horace–Southwest Fargo corridor, given that is where the explosive growth has been in recent years. I’ll look out a bit farther, though, and say the northern metro of Fargo and West Fargo, and the western reaches of Moorhead, as areas to look out for. Over the next decade, I believe you’ll see transformative development in many of those areas, including residential, industrial, retail, and more.
Q: What’s one area or corridor in the metro that you think has the most untapped potential?
A: The easy answer is the Horace–Southwest Fargo corridor, given that is where the explosive growth has been in recent years. I’ll look out a bit farther, though, and say the northern metro of Fargo and West Fargo, and the western reaches of Moorhead, as are
Q: What local place or experience inspires you outside of work?
A: Over the past few years, I’ve built a deeper personal relationship with God through a daily study called The Bible Recap. It’s been a life-changing journey, and I enjoy sharing it in hopes of encouraging others to invest in their faith as well. For anyone seeking to grow closer to the Lord, I can’t recommend this amazing program enough.
Goldmark Commercial Real Estate
goldmarkcommercial.com
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