The Issaquah, WA-based discount warehouse chain also issearching for other sites, and recently got approval to build onein Coon Rapids while getting turned down by Eden Prairie. While thecity of Coon Rapids approved its plans for a 140,000-sf warehouseclub store, Eden Prairie's city council turned down the warehouseclub, said Jim Sinegal, president and CEO of the Issaquah, WA-basedchain.

Mike Franzen, a planning official with the city of Eden Prairie,said that council members, who voted 5-0 to turn down the proposal,were concerned that the project was too massive for the intendedsite. An approved plan submitted six years ago by Ryan Cos. wouldbuild a four-building retail center on the site, and Franzen thinksMinneapolis-based Ryan will act on that plan in the near future."The council thought the Ryan plan was a better use of property andbetter relationship to surrounding properties in that area,"Franzen said.

Sinegal expects his chain will eventually open six in thismarket, and is looking for a site in Woodbury. On Thursday, Costcoopens its St. Louis Park store, and will offer free membershipsthat are good through the end of the year.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.