Both fast-casual restaurants open in August; Housing developer StuartCo welcomes first residents in June
MINNEAPOLIS (April 23, 2012) – Penn & American – the multi-phase, retail and residential project at the intersection of Penn Avenue and American Boulevard in Bloomington, Minn. – announces leases with two fast-casual restaurants that will open in August: Moe’s Southwest Grill and Which Wich Superior Sandwiches. The restaurants are part of the first phase of the redevelopment, which includes two retail buildings developed by United Properties and 234 apartments and townhomes developed by StuartCo.
Fast-casual restaurants open in August
Moe’s Southwest Grill will open a 2,600-sq.-ft. fast-casual restaurant on the site, its first Minnesota location. The Atlanta-based chain best known for made-to-order burritos, salads and quesadillas will bring five new restaurants to the Minneapolis area within the next three years. Moe’s was represented by Lonnie Pierce of Meridian Real Estate Group and landlord United Properties was represented by Jim Larson and Peter Armbrust of Cushman & Wakefield/NorthMarq.
Which Wich signed a lease this week for 1,800 sq. ft., its fourth location in the metropolitan area. Based in Dallas, the first of these fast-causal restaurants with customizable sandwiches opened in 2003. Which Wich was represented by Jen Helm and landlord United Properties was represented by Jim Larson and Peter Armbrust, all of Cushman & Wakefield/NorthMarq.
“We are excited to provide the southwest metro with these two new restaurant concepts,” said Brandon Champeau, development manager, United Properties. “We look forward to more businesses making their home at Penn & American.”
First residents move into townhomes in June
StuartCo is developing Genesee Apartments & Townhomes at Penn & American, which includes 212 apartments and 22 townhomes along with a rooftop deck, fitness center, outdoor pool and movie theater. According to Ryan Dunlay, vice president of StuartCo, the model home will open this week and the first residents move into the 22 two- and three-bedroom townhomes in June. The studio, one- and two-bedroom apartments and penthouses will open in August and September.
The Penn & American redevelopment includes a new signaled intersection at 81st Street and surface, secured structured and public on-street parking. The site allows for future redevelopment to occur in smaller phases; the next phase includes additional retail, hotel or office space. United Properties worked for nearly five years planning the new development, which replaced two former car dealerships.
About United Properties
United Properties, based in Minneapolis, Minn., specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail, office and flex office buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 60 office, medical, industrial and retail assets in Minnesota, Wisconsin and Colorado. For more information, visit www.uproperties.com.
StuartCo was founded in 1970 and since that time has grown into one of the most respected multi-family real estate developers and property management firms in the Upper Midwest. The company’s diverse portfolio includes low and high rise apartment buildings, townhomes, assisted living residence and memory care. StuartCo currently owns and/or operates 5,000 units of apartments and over 130,000 square feet of commercial space in Minnesota, Nebraska, and Wisconsin. For more information on Genesee, please visit www.GeneseeApts.com.
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