CSM Plans 550,000-SF Mixed-Use Project for Lockheed Site
- Sep 05, 2011
Two months after acquiring the 51-acre Lockheed site in Eagan, CSM Corp. has unveiled a proposal for a 550,000-square-foot mixed-use project dubbed Central Park Commons.
CSM’s plan calls for 480,000 square feet of retail space and 75,000 square feet of office space, the Minneapolis/ St. Paul Business Journal reported. The retail portion will occupy about 85 percent of the current footprint of the former Lockheed building, which will be demolished. Although CSM considered renovating and re-purposing the building, the developer eventually concluded that it was unsuitable for multi-tenant use and slated the property for demolition.
If the proposal wins approval from the Eagan Planning Commission and the Metropolitan Council, CSM would break ground on the project next April. Construction is expected to take about a year. Central Park Commons would bring CSM’s total retail portfolio to about 11 million square feet. According to the Business Journal, CSM is seeking more acquisition and development deals.