The real estate development arm of the Pohlad family and the family that founded the Slumberland Furniture chain are teaming up to expand the former Imation headquarters campus in Oakdale now known as 4Front Technology & Office Campus.
Industrial project planned for part of former Imation headquarters in Oakdale
The Pohlad-owned United Properties will team with Slumberland founders to develop 24 acres of the Oakdale site.
June 29, 2021 at 7:35PM
United Properties and Larson Enterprises have joined ranks to begin the first phase of an industrial expansion planned for 24 acres of land just east of Interstate 694 and north of I-94.
The first leg of the project will feature about 300,000 square feet of industrial space and cost in the "tens of millions of dollars," said officials, who declined to provide cost specifics.
"The entire city of Oakdale has about 3.5 million square of commercial and industrial space. This plan would be 300,000 square feet of that, so it's a sizeable development," said Oakdale Community Development Director Bob Streetar.
The future building site and the adjacent four-building 4Front Technology campus is owned by the Larson family, who founded the 120-store chain Slumberland Furniture. Slumberland bought the former Imation World Headquarters complex five and a half years ago with the idea of redeveloping the entire 122-acre site.
Construction is expected to begin in early 2022. The joint venture marks the first time the two companies have worked together, said Scott Peterson, United Properties vice president of hospitality and office development.
The partnership "merges two local families with deep roots in real estate and three generations of family-owned businesses," Peterson said. The companies spoke for a year before deciding to work together on the project.
Michael Larson, vice president of development for Larson Enterprises and Slumberland Furniture said "The partnership with United Properties is the next step to fully develop this property into a world-class facility."
The four buildings on the former Imation site are 85% occupied, Larson said.
Phase one of the expansion plan calls for 24 acres to be developed into industrial uses such as manufacturing, R&D, offices and warehouses.
Streetar said Slumberland and Oakdale agreed that any future warehouse tenants must reserve 25% of their footprint for a use that is heavily occupied by workers and not just inventory.
Another 65 to 70 acres of vacant land on the site will be developed in phases over several years, Streetar said.
The industrial uses were selected as the first leg of redevelopment because of the proximity to the critical interchange of highways I-694 and I-94, Peterson said during a phone interview.
He added that the project is expected to be a job creator and that it recently received a "planned unit development" amendment from the city that will allow it to access "one of the last large parcels in Oakdale" with direct access to I-694.
The site is near where Lennar Homes is building the 1,499-unit Willowbrooke residential housing complex on 208 acres of land near 34th Street N., between I-694 and Ideal Avenue.
The Minnetonka-based health insurer says the new contract “ensures continued, uninterrupted network access” to hospitals and clinics at the Bloomington-based health system.
