Amid Boom In Metro Projects, Woodbury Attracts Retail Center
Bloomington-based United Properties and Edina-based Jerry’s Enterprises, Inc., are ready to start construction of Bielenberg Gardens, a new retail center in Woodbury that will be anchored by a grocery store.
The Woodbury City Council approved the plan at its September 11 meeting. Construction of the 90,000-square-foot retail center is slated to begin in October and be completed by the fall of 2014. The project calls for a 68,000-square-foot grocery store, but the name of the store has not yet been disclosed. The project is at the southwest corner of Radio Drive and Bailey Road in Woodbury.
United Properties first began exploring the redevelopment of the site in 2006 but was slowed by the downturn in the economy.
“The recession was a big factor in the timeframe,” Rick McKelvey, assistant vice president of development for United Properties, told Twin Cities Business.
Bielenberg Gardens is meant to be the retail component of a larger project envisioned by the city, which could include apartments, townhomes, and other elements. Minneapolis-based Architectural Consortium, LLC, is the project architect for Bielenberg Gardens.
Construction of new retail projects in the Twin Cities is drawing national attention. A report last week from Seattle-based Colliers International found that the Minneapolis-St. Paul area is leading the nation in retail construction with 1.2 million square feet of projects underway.
The largest project is the 409,000-square-foot upscale Twin Cities at Eagan outlet mall that is under construction in Eagan and is being developed by Baltimore-based Paragon Outlet Partners, LLC. Tenants will include Saks Fifth Avenue Off 5th, Brooks Brothers, Coach, and Calvin Klein.
Sara Martin, senior associate with the local office of Colliers International, noted that Bentonville, Arkansas-based Wal-Mart has also been expanding in the Twin Cities. The retailer recently completed a store in Blaine and is under construction on new locations in Andover, Cottage Grove, and Roseville.
Martin said that the overall second-quarter retail vacancy rate of 6.2 percent in the Twin Cities is lower than other markets across the United States.
“We are definitely going to see some new development,” Martin said. “Tenants are finally able to pay new construction rents.”
Below is the site plan for the Bielenberg Gardens project.