More Projects to Come
Friday, August 15, 2014
Minn. firm finishes 9 projects in western N.D. this year
August 15, 2014
A Minnesota development firm has completed nine projects, including retail stores, transload facilities and apartments in Minot and area cities in western North Dakota during the first half of 2014.
During that same timeframe, Oppidan Investment Co., of Minnetonka, Minn., has a master planned community under construction in Watford City.
The company's also providing construction management services for a transload facility project under construction in Douglas.
Oppidan also sold 400,052 square feet of retail space and a 42-unit apartment building in North Dakota's Bakken region during the first half of 2014.
"Our sales in the Bakken region clearly demonstrate that we made the right decision in pursuing development there," said Joe Ryan, president of Oppidan, in a news release.
"It's been a great start to the year one we would like to continue to build upon,"Ryan said.
Oppidan to develop New Town apartments
NEW TOWN Oppidan Investment Company announced plans Thursday that it will develop a 77-unit apartment building near the intersection of N.D. Highway 1804 and West Avenue in New Town.
The 88,000-square-foot building, known as Fox Run, will include one-, two- and three-bedroom units. Constructon will begin today and is expected to last into the early spring of 2015.
"The growth in North Dakota's Bakken region in impacting communities large and small, and New Town is no exception," said Jay Moore, developer with Oppidan. "Population numbers continue to increase in the northwest part of the state, and those folks need housing and hotels, they need groceries, they need gas for their cars. We're pleased to be a part of meeting those needs in New Town with this housing option."
Following are the Oppidan developments completed in the first half of 2014:
- New construction: Lot 6-retail (Batteries & Bulbs Plus, Five Guys, Total Nutrition, Uncle Maddios), 8,712 square feet (1.4 acres), completed in March.
- New construction: Lot 7-retail (Asia Japanese Steakhouse), 6,928 square feet (1.5 acres), coming soon.
- Construction: Transload facility, 20 million pounds silo storage, completed in March.
- New construction: Cash Wise Foods, 36,052 square feet, completed in May.
- New construction: Tioga Outlot-retail (Anytime Fitness, Cash Wise Liquor, China Express), 10,000 square feet (1.5 acres), completed in June. Cashwise Liquor is open for business, China Express will open Saturday and Anytime Fitness is not open yet.
- New construction: Pheasant Ridge II Apartments, 42 units, completed in May.
- New construction: Watford Outlot-retail (American Smoke Wagon, Mailbox Solutions, Saddles Up, Taco Johns, Verizon), 10,911 square feet, completed in May.
- New construction: Transload facility, 30 million pounds silo storage, completed in June.
- New construction: Westview Plaza, south of U.S. Highway 2 (Cash Wise Foods, Holiday Station Stores, O'Reilly Auto Parts, Tractor Supply Company and Main Stay Suites hotel), 105,000 square feet, all completed with the exception of Main Stay Suites still to be completed.
Projects under construction in the first half of 2014:
The Highlands, a 43-acre master planned community comprised of single family homes, town homes and multi-family apartments, is under construction at Watford City. The expected completion date will be announced later.
Construction management projects under constrution in the first half of 2014:
A transload facility at Douglas is being remodeled and expected to be completed in September.
(The two Douglas facilities one completed in June and one being remodeled are for the same company but different properties at Douglas, according to Oppidan officials.)
Asset sales in the first half of 2014:
- WATFORD CITY: Watford Plaza, 102,000 square feet, sold in January.
- MINOT: Southgate Crossing, 160,000 square feet, sold in March.
- STANLEY: Westview Plaza, 105,000 square feet, sold in April.
- TIOGA: Cash Wise Foods, 36,052 square feet, sold in May.
- WATFORD CITY: Pheasant Ridge II Apartments, 42 units, sold in May.