J.C. Penney Co. Inc. is building a new store in Baxter.
Speculation about J.C. Penney moving from the East Brainerd Mall to Baxter has circulated here for months but no one was willing to go on the record regarding the project.
Site developers and J.C. Penney officials here and at the department store's headquarters in Plano, Texas, did not want to comment. Thursday afternoon, Tim Lyons, from J.C. Penney public relations in the Texas office, said he would have to get back to the paper regarding information about a Baxter store. But it has been learned the building site plan is currently in review by the city of Baxter.
The city of Baxter is reviewing plans for a one-story 83,000-square-foot building near the corner of Highway 371 and Glory Road by the Wal-Mart Supercenter.
The contractor listed on the plans is Stahl Construction from the Twin Cities and the developer on the site is Central Lakes Properties. Baxter reports the building permit is expected to be finalized by mid- to late August.
A new firm has been created in the lakes area as RE/MAX Commercial of Baxter agents Rob Johnson, Curt Johnson and Heath Johnson left RE/MAX to launch a company called Denali Companies. They are joined by Denali Real Estate Group founder Craig Fink, who was a previous partner in RE/MAX Lakes Area Realty.
Fink's company acquired the former Pine Meadows Golf Course, which is the site of Baxter Town Center.
Denali Companies is self described as a commercial brokerage company with development, property management and private capital solutions divisions.
"In addition, Denali will offer cost segregation studies, as well as fee-for-service development and build-to-suit consulting services for property owners and investors," the new firm reported in a news release. "The combined strengths of Denali Companies and it's collective strategic partners will dramatically enhance the appeal of its service offerings to a broad range of property owners, investors and retailers. Denali Companies is redefining the way outstate commercial brokers, developers, tenants and financing all come together."
Rob Johnson, Curt Johnson and Heath Johnson, Denali Companies principals, report "current developments in process in excess of $100 million, in addition to brokerage transactions exceeding $90 million. These multiple development projects are in Baxter, Minneapolis, St. Cloud, and South Dakota. They include lake shore, retail, office, food and multi-family."
Denali Companies is headquartered at 13954 Cypress Drive in Baxter. The firm reported it expects to add staff and enhance its Twin Cities market presence.
RENEE RICHARDSON, senior reporter, may be reached at email@example.com or 855-5852.
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