Scannell Properties Plans Mixed-Use Redevelopment of Deluxe Corp. Campus
Indianapolis-based Scannell Properties has announced plans to convert Deluxe Corp.’s Shoreview corporate campus into a mixed-use development. Scannell acquired the property in a sale-leaseback deal before Deluxe unveiled plans to relocate its headquarters to downtown Minneapolis last month.
For now, Deluxe still needs to lease its current space; it won’t complete the move to downtown Minneapolis until next fall. Scannell won’t start redevelopment of the 49-acre site until Deluxe moves out.
So far Scannell hasn’t said much about its plans for the large site. Scannell is primarily known as a developer of industrial properties. But the company has now disclosed that it’s working on a plan that calls for mixed-use development on the site which would include some housing.
According to a statement from the company: “Scannell is currently evaluating a master plan containing a variety of uses including manufacturing, R&D, multi-family, and office-warehouse. The redevelopment will eventually total around 500,000 [square feet] of product across the 49.15-acre property.”
The company has been busy in the Twin Cities market. Scannell will build and develop a new 750,000-square-foot fulfillment center for Amazon in Lakeville. Scannell has a multifamily division as well; the company developed a 137-unit apartment project near Allianz Field in St. Paul.
“This is a great opportunity for Deluxe to remain in place while it prepares its new downtown headquarters,” said Tim Elam, managing director at Scannell Properties, in a statement. “It’s also a highly desirable location for redevelopment inside the 694 loop.”