VOLUME 31, NUMBER 11
©2015 Law Bulletin Publishing Co.
November 2015
HJ Development adding junior box retailers to Baxter’s commercial mix
By Dan Rafter, Editor
T
he Minneapolis/St. Paul market isn't the only area in Minnesota that's in the middle of a commercial construction boom. Consider Baxter, Minnesota. Though this city in Crow Wing County -- about an hour-and-a-half Northwest of the Twin Cities -- boasted a population of just 7,610 as of the 2010 Census, it's been steadily growing since. And commercial developers have noticed. An Aldi supermarket celebrated its grand-opening Dec. 3 in Baxter. The community is already home to busy Gander Mountain, Walmart Supercenter and Costco Warehouse locations. Now HJ Development is ready to add to the commercial mix here with Central Lakes Crossing, a retail center planned for the intersection of Highway-371
and Glory Road South in Baxter. Plans call for up to 150,000 square feet of junior box space and 30,000 square feet of small shop space. Chris Moe, partner with HJ Development, said that the time is right to tackle such a development in Baxter. “You have a lot of people here with secondary homes that spend a lot of time in the Baxter area,” Moe said. “You have people with higher incomes who live up there on a seasonal basis. I think of this area as Main and Main for Central Minnesota. It draws from a large population base.” Moe says that big box retailers – such as the Walmart Supercenter, a Target and the Costco – have already proven that they can thrive in the Baxter area. HJ Development’s goal with Central Lakes Crossing is to add junior box tenants to the market, in addition to fast-casual restaurant. “We’d like to bring some national names to the development that aren’t curHJ Development to page 22
Patrick Gaughan: To succeed at real estate? You have to do good for your community By Dan Rafter, Editor
A
s president of Forest Lake, Minnesota-based Gaughan Companies, Patrick Gaughan knows what it takes to succeed in the competitive world of commercial real estate. Gaughan recently shared some of the reasons for his success He spoke, too, about the challenges and rewards of a career in this business. Two generations strong: Gaughan Companies is a
second-generation business. My father started the organization. Just being around it as a child, working with my father, that’s what led me to commercial real estate. Before you know it, you are working away at the business. You suddenly realize how much you have learned, and how much you’ve been taking it for granted. You realize that you enjoy what you are doing, and you notice that you are good at what you do. Since I’ve been a boy, I’ve been involved in construction and development. I started building relationships with peo-
ple in this field from a young age. The mission: When you look at any field, whether you’re talking about medicine, the military or academia. They all have a mission. When it comes to business and commerce, it’s important to do what is good for the community. That includes doing good for the tenant or the investor. You need to give good advice to the people you are representing. You can’t look at a Gaughan to page 16