Weather Forecast


Minnesota's Kraus-Anderson tapped to transform State Farm building

An artist's initial rendering of the proposed Woodbury Corporate Center slated to be built on the State Farm Insurance Co. building's grounds. (File image)

The investment firm that plans to redevelop the State Farm Insurance campus in Woodbury on Wednesday announced a Minnesota-based company will be its construction contractor.

Kraus-Anderson, a business headquartered in Minneapolis, will team up with Florida-based Elion Partners to develop the existing State Farm grounds into what a news release calls "pad-ready sites for the development of new retail, grocery, restaurants and shops." Initial plans called for the new site to be called the Woodbury Corporate Center.

Work on the multi-phased, 700,000 square-foot commercial development project -- located at Radio Drive and Interstate 94 -- is expected to begin this summer, according to the release.

In addition to the existing 400,000 square-foot building already on site, the project will add 300,000 square feet of new construction.

“We are presently in lease negotiations with an established national hotel chain, a national high-end grocer and with several restaurant and retail tenants,” Matt Alexander, Kraus-Anderson’s director of real estate development, said in the news release.

The announcement describes the redeveloped setting as a "destination-minded environment with eco appeal" that sits on 100 total acres.

“The partnership between Elion and Kraus-Anderson is wonderful news for the city,” Woodbury Mayor Mary Giuliani Stephens said in the release.  “While Elion has yet to submit a formal development application for this proposal, they clearly have a plan for moving forward.  We are excited for this development to evolve into another cornerstone of economic growth for the City of Woodbury.”

Mike Longaecker

Mike Longaecker is the regional public safety reporter for RiverTown Multimedia. His coverage area spans St. Croix and Pierce counties. Longaecker served from 2011-2015 as editor of the Woodbury Bulletin. A University of Wisconsin-River Falls graduate, Longaecker previously reported for the Red Wing Republican Eagle and for the Forum Communications Minnesota Capitol Bureau. You can follow him on Twitter at @Longaecker

(715) 426-1072