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DATE ##, 2009 SEPTEMBER 1, 2011
VOLUME 30, NUMBER # VOLUME 32, NUMBER 27
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Retail, office complex at Lockheed Martin site? by Jessica Harper DAKOTA COUNTY TRIBUNE
A Minneapolis-based developer is hoping to turn a huge chunk of the Lockheed Martin building in Eagan into retail space. “Given its proximately to Town Centre and Promenade (two major retail centers), we believe it is a strong, viable trade area site that lends itself to retail uses,� said Tom Palmquist, vice president of commercial development for CSM Corp. The city’s comprehensive guide currently designates the property as major office. “(But) filling a 623,000 square-foot office building that was built 40 years ago for a specific use could be very difficult,� said City Administrator Tom Hedges. Subdividing the site could also be challenging, he said. CSM Equities LLC, an affiliate of CSM Corp., is asking city officials to amend their comprehensive guide plan to redesignate 41.2 acres of the 51-acre site as retail commercial. The plans also call for several freestanding restaurants and would keep the remaining 6.2 acres as office space. “We are looking at a variety of alternatives and are trying to put together the best mix,� Palmquist said. The site is at a prime location — the intersection of Pilot Knob and Yankee Doodle roads, Eagan’s busiest intersection — and is near its major retail centers, Promenade and Town Centre. Before making any final decisions, though, city officials would want to ensure another retail complex would complement others in the area, Palmquist said. The project — which CSM calls Central Park Commons — would do just that, he said. “Our hope is to bring retailers to the Eagan
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CSM Equities LLC, a developer who in April purchased Lockheed Martin’s building in Eagan, hopes to redevelop the land into a retail and office complex. Lockheed announced last winter it will close the Eagan site in 2013.
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INSIDE BIZ FORUM
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Minnesota Council of Churches is organizing a service to honor those who died on Sept. 11, 2001. GAIL 6A ANDERSON CAPITOL COMMERCE
Former Minnesota state Rep. Phil Krinkie, Lino Lakes, is considering a run for either U.S. House or Senate. PHIL 6A KRINKIE NEWS
MIKE SLAVIK
CSM Corp. says the developer’s goal is to attract retailers who offer new services that complement existing businesses in the area, such as Town Centre, pictured at left. Above is an aerial view of the Lockheed site. trade area that are new to the market and who offer something that the current retailers don’t,� he said, adding that CSM has been talking with several interested businesses. Redeveloping land into retail space is nothing new for CSM. Its previous projects include Burnhill Plaza
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Shopping Center in Burnsville, Shops at Lyndale in Richfield, and Bonaventure Shopping Center in Minnetonka. The developer purchased the property in April and closed on the sale in June, but Lockheed Martin will continue to occupy the space
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Hastings City Council Member Mike Slavik has announced his intention to run for Dakota County Board 9A
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See Lockheed Martin, Page 5A
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