Recently Sold

Water Gremlin Development

9200 hudson, lake elmo, sold

Case Study:

Water Gremlin called on CRE Partner to assist them with a site search for a new facility. The company needed more space and was uncertain if purchasing, leasing, or building was the appropriate solution. The goal was to find additional space and limit logistics costs.

Challenges:

The Water Gremlin project had numerous challenges. While they owned a land site next to their current facility, the soil conditions made building difficult. However, transporting their product is expensive and finding an existing building with the necessary floor load was very difficult.

Solution:

CRE Partners worked with Water Gremlin on finding a suitable alternative for sale or lease in their general vicinity. After comparing the available options, the decision was made to build on their current site. CRE Partners helped establish a relationship with Anderson Companies, a general contractor, to provide development services. Anderson navigated the difficult soil conditions, worked closely with White Bear Township to create a 25-year tax increment financing (TIF) district, assisted with community approvals, like-facilities budget comparisons and financial package creation. Just prior to construction, an active bald eagle’s nest was discovered on the site. Anderson Cos worked closely with a US Fish and Wildlife biologist to secure the necessary permits while minimizing the impact to the eagle’s nest.

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