After brewing the deal for more than a year, the city of Anoka plans to sell a high profile piece of property for a new Caribou Coffee store.
The land at the corner of Main and Ferry streets has been marketed through Upland Real Estate since 2010. Monday the Anoka City Council unanimously voted in favor of a purchase agreement to sell the property to MW Developers.
More than a year ago, the city signed a letter of intent to work with the developer to build the Caribou Coffee on the busy Anoka corner.
“They also had to work with U.S. Bank to acquire some additional property to make the site more usable,” said City Planner Erik Thorvig.
Once the purchase agreement is finalized, the city will sell the 13,243 square feet of property for $95,000 plus closing costs.
According to Thorvig, the deal is also subject to an 8 percent brokerage fee.
The developer is proposing to build an 1,800 square-foot coffee shop building with parking and a drive-through, Thorvig said.
He said the developer is also open to adding some historical markers at the corner to recognize some local Civil War history.
Councilmember Jeff Weaver said that Anoka is seeing a lot of great development within the city.
“What a great night,” he said during Monday’s city council meeting, which also included the final approval of the site plan and development agreement for the new HealthPartners medical clinic.
Other developments under way include the Volunteers of America’s The Homestead at Anoka senior living community along with the new Kwik Trip gas station and convenience store along Highway 10.
Weaver also said this particular land sale meets the council’s goals of getting city-owned property back on the tax rolls.
“Not too long ago there was an abandoned Burger King building on that corner,” said Weaver.
The council is expected to finalize the purchase agreement at its July 9 meeting. The sale will also be dependent on the city’s final approval of a site plan and development agreement.
MW Development is expected to submit its site plan for review by the Planning Commission at its August meeting. The site plan and development agreement will likely be considered by the city council at its Aug. 20 regular meeting.
According to Thorvig, construction is only expected to take 90 days and the Caribou Coffee will likely open in November.
Mandy Moran Froemming is at [email protected]