It’s no wonder St. Cloud is one of the fastest growing metropolitan areas in the U.S., with so many companies expanding their operations with an expressed desire to stay in this community. The Division St. and 2nd Street So. corridors and Downtown St. Cloud are just two prime examples of primary corridors undergoing redevelopment.
Midland Atlantic Properties Increases Its Presence in East St. Cloud
Midland Atlantic Properties has owned the CashWise and Westside Liquor properties near Target on the east side of St. Cloud since 2017. In Fall 2020, they acquired the demolished the former 1950s blighted Gateway Motel and a new 5,200 sq. ft. multi-tenant commercial building was constructed a the busy intersection of Lincoln Ave. and Highway 23. "We love the corner, the City, the market, and the corridor," say Clayton Riney, Development Manager at Midland Atlantic Properties. Midland's new multi-tenant space will be know as "The Shoppes at Lincoln Place," with the end-cap space leased to Caribou Coffee. "We are uniquely invested in the area and are excited to see the property service the community more widely," said Riney. To fund the redevelopment costs, Midland Atlantic Properties was supported through the MN Dept. of Employment & Economic Development Redevelopment Grant and matching funds from tax increment financing approved by the St. Cloud Economic Development Authority.