The new store, on Main Street, will be the family-run candy company's first in 20 years.
Owners of the popular Candyland stores say they will open an outlet in Stillwater this summer.
Doug and Brenda Lamb bought the Instudio building at 212 N. Main St., where they will sell their iconic 3 1/2-gallon popcorn tins, extensive line of homemade chocolates and other confections once renovations are complete.
The store will be the first new metro-area Candyland since the Lambs opened a shop more than 20 years ago at the Mall of America in Bloomington. That location has since closed.
"We did not want to be in a mall," said Brenda Lamb, citing one of the reasons the Lambs chose Stillwater for their fourth metro-area location. "We like to be in street locations. Plus, we live nearby."
The Lambs' son, Brandon, 25, will manage the new store, which will have one amenity lacking at Candyland's two downtown Minneapolis locations and its flagship store that opened 80 years ago on Wabasha Street in St. Paul: parking. The Stillwater store will have eight off-street parking spots.
"We're excited about that," Brenda Lamb said. There are "people who don't want to come downtown because of parking."
It's possible that many customers won't need a place to park their vehicle. A new bike trail under construction is expected to bring thousands to the St. Croix River city. The store also is near where Stillwater is building a new pedestrian mall that could drive foot traffic.
It was not immediately clear how many employees the new Candyland will have.
Lamb said the store will focus on and work to attract a loyal base of local customers. But it also hopes to attract tourists and those who pass through town on Hwy. 95 on their way to points north and east.
"The goal is to have a good flow of business all year round," she said. "This is a good fit for business."
Tim Harlow 651-925-5039 Twitter: @timstrib