Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Buyer of Seven Corners hardware store is revealed: Opus

Posted by: Janet Moore Updated: January 24, 2014 - 4:12 PM

Minnetonka-based Opus Development Co. LLC confirmed Friday that it is the buyer of the iconic Seven Corners hardware store in St. Paul. A mixed-use development of some type is in the works for the centrally located spot in the Capitol City.

Earlier this month, the family-owned institution announced that it would close June 1 after nearly 80 years in business with plans in the works to sell to an unnamed "national developer."

That, apparently, is Opus.

Dave Menke, Opus executive vice president, said in a statement, “Seven Corners hardware is a well-known property in downtown St. Paul and when the owners decided to close the store and sell the land Opus responded quickly.

"We see this as a unique opportunity to redevelop a key piece of property in a market that is experiencing very dynamic growth," Menke said. "We are just beginning our planning efforts on an exciting mixed-use project. As we always do, we’ll continue to work with the city, neighborhood groups and other stakeholders throughout the planning process.”

The deal also includes an adjacent property that is currently occupied by the Free at Last Church of God in Christ. The pastor of the church, Joseph Webb, could not be reached for comment.

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: Who is your favorite Gophers head coach?

Weekly Question

ADVERTISEMENT