The $15 million shopping center will be anchored by Menards, Wal-Mart and a Kohl's department store, which plans to have its store open by August 2004, says Steve Johnson, director of development and leasing at the Minneapolis office of Cincinnati-based North American Properties. Other tenants include T.J. Maxx, Dress Barn, Michael's and Pier 1 Imports, Johnson says.

The project is near Stillwater, MN, just off Highway 36 on Krueger and Norell.

The Twin Cities retail sector is doing quite well, bolstered by an economy that has an unemployment rate of 3.9%, well below the national average. The vacancy rate for this sector is 5.3% at mid-year, according to a report from Bloomington, MN-based United Properties. That has prompted developers to bring online about 2.1 million sf of retail development this year in the Twin Cities.

While the project is being developed by North American Properties, the general contractor on the project is Amcon Construction.

There are four outlots that could provide room for a variety of restaurants, banks and a multi-tenant retail area, Johnson says.