MINNETONKA, MN—Minneapolis-based multifamily developer and management firm Dominium has acquired a 120,000-square-foot office building here and will relocate its corporate headquarters to approximately half of the Crest Ridge property.

The firm, currently headquartered at 2905 Northwest Blvd in Plymouth, MN, states that it will begin renovating the Crest Ridge building in early 2020. Its preliminary plan calls for Dominium to occupy approximately half of the 120,000 square foot building, with the remainder of the building available for lease.

Crest Ridge is located on seven acres of land with walking trails and access to Interstate 394 and highway 169. The building was constructed in 2009 and achieved LEED Gold Certification.

The property was formerly occupied by Syngenta Seeds, which relocated operations to Minneapolis. No financial terms of the transaction were disclosed.

Dominium states the purchase and relocation were due to outgrowing its current office space. Currently, Dominium employs more than 1,200 individuals, including more 200 in the corporate office in Plymouth.

"We are excited to move our headquarters to the Crest Ridge building," says Paul Sween, managing partner of Dominium. "The building's location, amenities and space are an ideal fit for our growing business."

Last month, Dominium commenced construction on its Covington Crossings project in Covington, GA. Construction is expected to be completed in February 2021.

Covington Crossings will provide 198 units of affordable, senior housing to Covington. The one, two and three-bedroom apartment homes will be restricted to seniors age 55+ earning no more than 60% of the area median income.

Dominium maintains a portfolio of approximately 35,000 owned and/or managed units at more than 200 sites in 22 states.

Instant Insights /

Dominium Moving Corporate Headquarters to Larger Space in Minnetonka

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