Minnetonka-based Oppidan's bet on North Dakota pays off
- Blog Post by: Janet Moore
- March 4, 2014 - 5:05 PM
Last summer, we wrote about Minnetonka-based Oppidan Investment Co.'s big bet on oil-rich North Dakota.
The national property development firm said recently that it developed 783,467 square feet of property across the country in the second half of 2013, bringing the year-end total to about 1.8 million square feet. Also in the second half, the company sold 342,353 square feet of retail space, about 12 acres of land, 114 apartment units, 50 home sites and provided construction management services for seven projects (one of which is complete).
Of the 34 projects either completed, under construction, or the construction management projects under construction and the asset sales highlighted in the report for the second-half of 2013, 18 were in booming North Dakota.
Oppidan President Joe Ryan said last year was the best-ever for the firm, which was founded in 1991. "Oppidan continues to be a strong player in the development of North Dakota's Bakken region," he said. Oppidan "has proven itself to be a successful residential developer, and is sought out as a valuable construction management partner."
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