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HomeMy WebLinkAbout1989-10-23 Start Tribune News Article 4Q Monday /October 23/1989/Star Tribme . Commercial real estate/ ' F inancing ready, . f or St. Croix o in ce F tuncing is in place for the renova- tion rand expansion of St. Croix Mall shopping center at Hwy. 36 and Os- Av. in Oak Park Heights, about miles east of St. Paul. Northwestern Mutual Life Insurance Co. has agreed to provide the devel- ± aW, Oak Park Partners, with $12.2 mi#"ton in financing. Jon Dahlin, an Eberhardt Co. vice president, repre- satatd Oak Park Partners in the tratsaction. Development Oak Park Partners consists of Ste- phan M. Watson, Daniel A. Bergeron mad Bradley A. Henning. Its, mem- Susan E Peterson, Richard beta are officers of Watson Centers k4ory . laid Ait)ony Nftly Inc retail development firm based I& 3� Louis Park. The partnership bought. St. Croix Mall and began construction in Sep - temher. The enclosed mall and a*- 06at strip center currently comprises i",200 square feet. By fall 1990, C*k Park Partners .plans to add 91,400 square feet to the mad, in- dading a new .anchor a two4vvel, 54,0©0- square -foot Herberger's De- parMent Store. TUb complex is approximately 80 PV tnt leased. Current tenants m- dode K mart, Snyder Drug, MGM br, Hardware Hank and Line- d Theatres. Three additional SuMts — *ftwiee's; Fashion Dui. Nd YW ty�r plan to have 'stores in. the exea+~« --