WAITE PARK -- Big plans to renovate and redevelop a recognizable Waite Park building is underway.

Kevin Brink is one of the managing partners for the Marketplace of Waite Park and the owner of Trivista Brink Commercial Real Estate, which oversees the management and leasing of the property.

He says they are looking at making some major changes to the interior and exterior of the building to provide a fresh and updated look.

We are looking at every component. Not only from redoing store fronts, but looking at different types of tenants like medical-retail, cutting the bay depths back, taking off the front awnings and redirecting traffic so maybe some of the retailers have store front parking.

He says they are currently working with an architect to provide a more updated look to the buildings, similar to the redevelopment of the former Kmart property. They hope to have plans finalized within the month.

They are also in talks with a tenant on building an out building on the property similar to the Mattress Firm.

Brink says talks of a makeover to the interior and exterior of the building has already sparked interest from potential tenants.

When we purchased the property we were 65% occupied, so we have 35% to lease. We are in discussions with about another 10-15% already and other preliminary discussions with another 10-15% so we are getting close to where we could almost be full.

He says the Marketplace Mall and Marketplace Annex will be the primary focus of the remodel, which will begin once design plans have been finalized.

The property includes five buildings -- the Marketplace Mall, Marketplace Annex (which includes Friends Bar and Anejos) and three freestanding buildings, Fuji Steakhouse, Starbucks and a two-tenant building between them.

Along with the building upgrades, Brink says they are beginning improvements to the parking lot, lighting and signage.

 

(Photo: Alex Svejkovsky, WJON)