Prairie Business Magazine offers intriguing insight into real estate investments funneling into western North Dakota because of the oil boom.
A lengthy story about development in the Bakken was published in the Aug. 30 issue of the publication. The story describes how communities in the Bakken oil patch are attracting money from around the world.
Last year, building permit valuations in just the three cities of Williston, Minot and Dickinson exceeded more than $1 billion. Communities such as Watford City, Stanley and Tioga added millions of dollars more to the mix.
I’m among the real estate investment executives who are quoted in the story by editor Kris Bevill. Among other peculiarities of doing business in the Bakken, I discussed the fast pace of business there.
“You don’t get 60 to 90 days to look at an opportunity. You have a week,” I told the magazine. “You have to react fast and if you don’t, you lose out on the deal.”
Several other development and investment executives also were interviewed for the story. You can see the article at: http://www.prairiebizmag.com/event/article/id/15817/group/Business/.
Prairie Business is a well-regarded regional magazine. It is published in Grand Forks, N.D., but distributed in a multi-state area that includes South Dakota.