Continuing the momentum of the 100-acre mixed-use development CityPlace in Woodbury, Minnesota, Elion Partners and Kraus-Anderson have teamed up again forming a joint venture to develop a three-story, 54,000-square-foot Class-A office building.
“Over the past three years, CityPlace has generated an impressive amount of medical office, hotel and retail growth,” said Woodbury’s mayor, Mary Giuliani Stephens, in a statement. “Bringing high-quality, professional, daytime jobs to the city, was one of the primary goals of CityPlace, and this latest office building will bring the vision for this project one step closer to fruition.”
The newest building, which sits in the heart of the development, boasts visibility to Interstate-94, providing exposure to 118,000 cars a day.
The office portion of CityPlace began with the development of TRIA Orthopedic Center, a partnership between The Orthopedic Center, Park Nicollet & Health Partners and University of Minnesota Physicians. Earlier this year, The Davis Group announced plans to develop CityPlace’s second office building, a two-story, 50,000-square-foot medical office building, which will be opening in July of 2018.
“We are excited for our next partnership with Elion Partners,” said Matt Alexander, Senior Vice President, Kraus-Anderson Development, in a statement. “As we continue our efforts in Woodbury, we look forward to delivering a Class A office building to the community.”