Just Sold: Oppidan buys land for Goodwill store in St. Louis Park

Wednesday, May 8, 2013

Just Sold: Oppidan buys land for Goodwill store in St. Louis Park

Posted: 7:00 am Wed, May 8, 2013
By Anne Bretts Finance and Commerce

7:00 am Wed, May 8, 2013

Editor’s note: “Just Sold” is a Finance & Commerce feature based on certificates of real estate value (CRVs) recently filed for commercial transactions and significant residential transactions in Hennepin, Ramsey and Anoka counties as well as in counties using the state’s eCRV system. Additional details in the transactions come from Plat Research, the Minnesota Secretary of State’s office, company documents, online real estate listings, F&C archives, CoStar and other research.

St. Paul-based Goodwill/Easter Seals Minnesota uses this prototype design for new stores in Minnesota, including one set for construction at Highway 100 South and 36th Street in St. Louis Park. (SUBMITTED RENDERING)

Highway 100 and West 36th Street, St. Louis Park

An entity related to Minnetonka-based Oppidan Investment Co. closed May 1 on the land for a new Goodwill store set for construction in St. Louis Park.

KTJ 225 LLC paid $996,552 for land adjacent to the LA Fitness center at 3555 S. Highway 100. The sellers were 7 & 41 LLC and 7 & 41 Crossings Center LP, two private Minnetonka investors.

The sellers paid $9.15 million in 2008 for the vacant former Planet Ford dealership, which closed in 2006. The site was redeveloped into the fitness center.

Oppidan has split the property and will build a 17,600-square-foot building on 1.54 acres in the southwest portion of the site. St. Paul-based Goodwill/Easter Seals Minnesota is set to lease the store when it opens late in 2013.

Goodwill has 25 traditional stores in the Twin Cities area. Goodwill, which has worked with Oppidan on several new stores over the last two years, opened its newest store in Maple Grove in March and plans to open its next in Willmar in May. As Finance & Commerce has reported, it also is working on other sites.

The sudden appearance of the long overdue spring means the St. Louis Park project and others can get underway, said Pat Barrett, vice president of construction for Oppidan.

“We’ve got a lot of work coming up and we’ve been waiting for warm weather,” Barrett said.

In addition to the Goodwill stores, Oppidan is working on a new retail center in Apple Valley, a 155-unit apartment complex in Chanhassen, and senior housing projects under construction in Edina and Plymouth. The company also is working on projects in North Dakota and recently announced plans to open an office in Watford City, N.D.

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