CRE W Minnesota

Minnesota's CityPlace mixed-use development snags new retailers

cityplace-woodbury
A rendering of the CityPlace development.

As construction continues on the mixed-use development, retailers Caribou Coffee, La-Z-Boy Home Furnishings and decor, Potbelly Sandwich Works and Tu Nails have signed leases at CityPlace in Woodbury, Minnesota.

As construction continues on the mixed-use development, retailers Caribou Coffee, La-Z-Boy Home Furnishings and decor, Potbelly Sandwich Works and Tu Nails have signed leases at CityPlace in Woodbury, Minnesota.

Located at Interstate-94 and Radio Drive in Woodbury, CityPlace is being developed by a partnership of Florida-based Elion Partners and Minnesota’s Kraus-Anderson.

Last year, Whole Foods Market was named as an anchor tenant, and leases have been secured with Verizon Wireless, new-to-market Café Zupas and Wedding Day Diamonds.

The 150,000-square-foot shopping complex and 416,786-square-foot Class-A office building will also feature a 116-room Residence Inn by Marriott.

In addition, CityPlace is seeing increasing interest from strong national and regional brands that aim to leverage the drawing power of Whole Foods Market.

Juan DeAngulo, managing principal with Elion Partners, says the overall activity is a testament to the desirable location.

“We are excited about the momentum building at CityPlace,” said DeAngulo, in a written statement.  “We are confident our future tenants, both office and retail alike, recognize the built-in customer-base and first-class amenities CityPlace has to offer.”

The joint venture recently launched a new marketing campaign to reposition and tenant the existing 400,000-square-foot office building as it continues to revitalize the 100-acre parcel.

The master-planned development includes Class-A office space, shopping, restaurants and a hotel. Redevelopment of the 100-acre project is underway with the first phase of retail set to open to the public in the fourth quarter of 2015.