The Real Deal Miami

Aventura-based Elion co-developing 100-acre project near the Twin Cities

August 20, 2016 01:40PM

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Rendering of CityPlace in Woodbury, Minnesota

Rendering of CityPlace in Woodbury, Minnesota

Aventura-based Elion Partners and a co-developer expect to finish building a mixed-use development spanning 100 acres in a suburb of St. Paul, Minnesota, next year.

The development, called CityPlace, is unfolding east of the Twin Cities in Woodbury, Minnesota, and will feature a Whole Foods Market and a 116-room Residence Inn by Marriott.

The co-developers of CityPlace are Elion Partners and Bloomington, Minnesota-based Kraus-Anderson Realty Co.

The 100-acre site of CityPlace is a former office campus for State Farm Insurance. The insurer vacated the Woodbury location in 2006.

Elion Partners and Kraus-Anderson bought the land in 2014 from a real estate company called Wellington Management that had failed to advance its own mixed-use project there.

The roster of current and committed retail tenants at CityPlace includes Nordstrom Rack, La-Z-Boy Home Furnishings, Sur La Table, Verizon Wireless, Bank of America, Mattress Firm, Caribou Coffee and Einstein Bagels. [Woodbury Bulletin] — Mike Seemuth