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Minnesota company tapped to transform State Farm building

business Grand Forks,North Dakota 58203
Grand Forks Herald
Minnesota company tapped to transform State Farm building
Grand Forks North Dakota 375 2nd Ave. N. 58203

WOODBURY, Minn. -- The investment firm that plans to redevelop the State Farm Insurance campus in Woodbury announced Wednesday that a Minnesota-based company will be its construction contractor.

Kraus-Anderson, a business headquartered in Minneapolis, will team up with Florida-based Elion Partners to develop the existing State Farm grounds into what a news release calls "pad-ready sites for the development of new retail, grocery, restaurants and shops." Initial plans called for the new site to be called the Woodbury Corporate Center.

Work on the 700,000-square-foot project -- at Radio Drive and Interstate 94 -- is expected to begin this summer, the release said.

"We are presently in lease negotiations with an established national hotel chain, a national high-end grocer and with several restaurant and retail tenants," Matt Alexander, Kraus-Anderson's director of real estate development, said in the release.

The announcement describes the redeveloped setting as a "destination-minded environment with eco appeal" that sits on 100 total acres.