MINNEAPOLIS, May 2, 2014 /PRNewswire/ -- Transwestern's Minneapolis office today announces it has been hired by Florida-based Elion Partners to lease the 416,786-square-foot office portion of City Place, a mixed-use development that will span 100 acres at Interstate 94 and Radio Drive in Woodbury, a suburb of Minneapolis.
City Place, named for Elion Partner's vision of bringing a work/play city environment to the suburbs, will be anchored by the existing office building and complemented by restaurants, retail space and a hotel that are slated for construction pending site plan approval from the City of Woodbury. The work and play elements of City Place will be connected through a series of trails that include a lake and park.
"City Place will be a destination, not just another office property," said Mike Salmen, a Transwestern partner and leader of the team hired to lease the project. "We haven't seen anything like this on the east side of the Twin Cities, and people are really going to like what City Place has to offer. City Place will have the amenities, conveniences and services required to attract elite talent and impress clients."
City Place has been designed through a collaborative process with the City of Woodbury and Kraus Anderson, Elion Partners' joint venture partner in the development. "We are looking forward to working with Elion's team as they go through the city's approval process," said Woodbury Mayor Mary Giuliani Stephens. "This property has tremendous potential, and we're excited for this development to evolve into another cornerstone of economic growth for the City of Woodbury."
"We've formally applied for site plan approval and everything continues to move on target per the development plan," said Juan DeAngulo, managing principal at Elion Partners.
ABOUT ELION PARTNERS
Elion is a real estate investment firm with a proven track record of acquiring and developing quality properties in strategic locations. In each market Elion provides smart real estate equity for best-in-class developers and operators with the expertise to turn potential into profit. For private and institutional investors, that partnership approach makes Elion a trusted source of commercial real estate investments with reliable risk adjusted returns. Over the years, Elion and its principals have successfully managed full-cycle investments across a variety of asset types — industrial, office, retail, multifamily and land. Every investment analysis stands on tried-and-true real estate fundamentals.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.
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