Minneapolis-based Oppidan Investment Company, a national property development firm, has become one of the most active commercial real estate firms in the oil-rich Bakken region of North Dakota.
And to reaffirm its commitment to this region, officials with the company announced that they are opening their own office in Watford City. N.D. Oppidan will rely on the 2,500-square-foot office as a base of operations as it continues to build more multi-family housing and retail projects in the area.
“In the past year, Oppidan has invested more than $150 million to develop a wide range of retail and residential properties throughout the Bakken region,” said Joe Ryan, president of Oppidan, in a written statement. “We feel it’s important to have a more permanent footprint of our own there, to both demonstrate our commitment to the region and to appropriately manage our efforts.”
The Bakken area has been grabbing headlines for the amount of oil that companies are finding there. As workers flock to the area, they’re finding a region that is still sorely missing the apartment units, grocery stores, gas stations, banks and department stores that a growing population needs.
Ryan said that Oppidan chose to locate in Watford City because the community is centrally located within the Bakken region, and it is the most rapidly growing community within the area.
The new Oppidan office will be located in Watford Plaza, the company’s 120,000-square foot commercial development currently under construction at the intersection of Highways 85 and 23. Additional confirmed Watford Plaza tenants include Cash Wise Foods, Alco, Happy Rice Buffett and Red Wing Shoes. The development is expected to open in July.
Watford Plaza is one of two developments Oppidan currently has underway in Watford City. In October, the company began construction of Pheasant Ridge Apartments, a 42-unit apartment complex that will open in June.
