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POWERS CROSSING PROFESSIONAL CENTER
HWY. 212 & POWERS BLVD., CHANHASSEN
Type: Medical, corporate office
Size: 160,000 square feet
Area: 117 acres
Developer: United Properties
Details: The Chanhassen City Council this week will consider plans for a "signature" medical office project from Bloomington-based United Properties at a prime spot along the new Hwy. 212 corridor.
The Powers Crossing Professional Center, when it is completely built out, will be impressively large. The first phase is planned as a three-story, 88,000-square-foot office structure. The next would be a 72,000-square-foot addition, plus a five-level parking ramp with up to 731 spaces.
Its location in the southeast quadrant of the three-year-old Hwy. 212-Powers Boulevard semi-cloverleaf is considered a "gateway" to Chanhassen, and so city planners were looking for a status symbol for the site. It's also strategically located as one of the relatively few places along the new freeway suitable for such a sizable commercial project, according to William Katter, United Properties' vice president of development.
"This project will serve as a model for what Chanhassen will like to see along the Hwy. 212 corridor in the future, and within five to 10 years, I think there's no question the corridor is going to be playing a major role in the growth of the southwest Twin Cities metro," he said. "There's really not too much out there yet, so that bodes well for its future."
The project was originally proposed jointly with Fairview Health Services, which at one point was set to lease the facility, but the health care provider has put those plans on hold and has yet to make a firm commitment to anchor the project, Katter said. But he added that United Properties has great confidence that tenants will be found, and said Powers Crossing will be marketed to both medical and corporate office clients.
If OK'ed by Chanhassen, Powers Crossing will enter a medical office environment that's still stabilizing from a big growth spurt in 2007, and for the most part is now demand-driven rather than speculative, according to Northmarq research.
DON JACOBSON
Don Jacobson, a freelance writer based in St. Paul, can be contacted at hotproperty.startribune@gmail.com.
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