woodbury at a glance · 222 south 9th street, suite 3255, minneapolis, mn 55402 phone: 612.338.4000...
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222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 1
WOODBURY AT A GLANCE2017 marks the 50th anniversary of Woodbury’s birth as a city. Woodbury has seen tremendous growth over the past 40 years. In 1990, the city had 20,000 residents. Today, approximately 70,000 people reside in the city. As a gateway city along Interstate 94, it is a retail and service hub for the east metro and western Wisconsin.
The top employer in Woodbury continues to be Washington County public schools followed by HealthEast. Overall, about 40% of businesses fall into the service industry. Health services alone make up 10% of all businesses and 14% of the employees working in Woodbury. Healthcare providers will continue to move up the list in years to come as new facilities are completed, and as further consolidation of the industry continues.
• Rated 11th best place in the country to live by Money Magazine in 2016
• Washington County was recognized in the 2016 County Health Rankings Report, ranking second among Minnesota’s 87 counties in current health outcomes
Employer Employees as of 1/1/2017 Since 2015
ISD 833 1,209 + 0.2%
HealthEast 895 + 4.1%
3M 500 New to Woodbury in 2016
Summit Orthopedics 337 - 44.2%
Jerry’s/Cub 313 + 2.6%
Assurant 300 - 4.8%
Long Term Care Group 297 + 19%
Woodbury Senior Living 296 + 13.4%
Wal-Mart 282 - 15.3 %
Allina 258 + 3.2 %
Source: City of Woodbury
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 2
FORECASTED DEMOGRAPHICS
Woodbury’s population is expected to grow significantly through 2040. In 2010, there were almost 62,000 people in Woodbury. This number is expected to increase by 42% through 2040. The chart to the right highlights this continued growth in the community. By 2040, the population is expected to grow to 87,800 individuals.
2000
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40,000
60,000
80,000
100,000
2010 2020 2030 2040
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2000 2010 2020 2030 2040
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Within Washington county, Woodbury accounts for 26% of the total population. Both the county and Woodbury are expected to have continued growth through 2040, with Woodbury continuing to make up approximately 25% of the total population for the county throughout this period.
Woodbury Population Growth2000 – 2040
Woodbury Washington County Total
Woodbury and County Population Growth2000 – 2040
Source: Metropolitan Council
Source: Metropolitan Council
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 3
FORECASTED DEMOGRAPHICS
Both Woodbury and Washington County have outpaced the growth rate of the Twin Cities Metropolitan Region since 2000. While the growth rate will slow as the population density increases, both Woodbury and the county are expected to continue to grow at a faster rate than the metro through 2040.
Similarly, Woodbury and Washington County are expected to outpace the region in terms of employment. From 2010 to 2020, both Woodbury and the county are expected to grow almost 25% while the metro area growth is expected to grow 16% during this period. Between 2030 and 2040, growth in jobs will slow (but still exceed the metro) to just over 8% for both the city and the county while the metro area overall will grow approximately 6%.
2020 2030 2040
Year
5%
10%
15%
20%
25%
Woodbury/County/RegionalExpected Population Growth by %
2000 – 2040
Woodbury/County/RegionalExpected Employment Growth by %
2010 – 2040
Woodbury Growth Washington County Growth
Regional Growth
0
10%
20%
30%
40%
2010 2020 2030 2040
YearWoodbury Growth Washington County Growth
Regional Growth
Source: Metropolitan Council
Source: Metropolitan Council
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 4
Area Population Households
2000 2010 2020 2030 2040 2010 2020 2030 2040
Woodbury 46,463 61,961 72,500 80,500 87,800 22,594 26,800 29,500 32,100
Washington County Total
201,130 238,136 268,410 299,130 330,200 87,859 102,280 116,210 130,090
Twin Cities Regional Total
2,642,062 2,849,567 3,127,660 3,388,950 3,652,060 1,117,749 1,256,580 1,378,470 1,491,780
Woodbury % of Wash. County
23.1% 26.0% 27.0% 26.9% 26.6% – 26.2% 25.4% 24.7%
Woodbury growth – 33.4% 17.0% 11.0% 9.1% – 18.6% 10.1% 8.8%
Washington County growth
– 18.4% 12.7% 11.4% 10.4% – 16.4% 13.6% 11.9%
Washington County % of region
7.6% 8.4% 8.6% 8.8% 9.0% 7.9% 8.1% 8.4% 8.7%
Twin Cities Regional Total
– 7.9% 9.8% 8.4% 7.8% – 12.4% 9.7% 8.2%
The table below provides a summary of the expected change in population and employment for Woodbury, Washington County, and the Twin Cities Metropolitan Region.
Source: Metropolitan Council
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 5
HEALTHCARE IN WOODBURY(MOBs)
Medical development & MOBs
Number Status Property Name Building SF Total Avail SF On/Off Campus
1 Existing Woodwinds Birch Center 74,938 6,615 Woodwinds
2 Existing CornerStone Specialty 52,767 0 Off
3 Existing City Centre Professional 52,033 3,221 Off
4 Existing Woodlake Medical Building 36,000 0 Off
5 Existing Commerce Hill Medical 30,750 6,144 Off
6 Existing Radio Drive Professional 25,555 1,972 Off
7 Existing Woodbury Medical Arts 22,000 0 Off
– Under construction Twin Cities Orthopedics 50,300 0 Off
– Under construction TRIA 75,000 0 Off
8 Scheduled Tamarack Hills E4 19,700 19,700 Off
9 Scheduled Century Health Building 24,000 24,000 Off
– Under construction Minnesota Eye Consultants 41,000 0 Off
10 Proposed Tamarack Hills II 25,000 25,000 Off
11 Under construction CityPlace 60,000 60,000 Off
– Existing Allina 85,000 0 Off
Total 674,043 146,652
Primary care providers, medical development, and medical office buildings (MOBs)
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 6
1. This area of undeveloped land off Tamarack Rd & Bielenberg Dr south of I94 is seeing substantial growth. There are currently three MOBs either scheduled or proposed, though none have signed anchor tenants. Tamarack Rd on the west side of I494 currently has two projects under way which will be completed in the second half of 2017; a 41,000-sq.-ft. MOB for Minnesota Eye Consultants and a 164,200-sq.-ft. Costco. A La Quinta Inn & Suites was also completed and opened in late 2016. The site is right across the street from the Tamarack Hills retail development, anchored by Anytime Fitness and a Sheraton hotel.
2. This is the site of the largest retail center, Woodbury Village, in the city. Built in 1991 and anchored by Target and a movie theater, the center is currently in the middle of a two-phase $7 million renovation. Golden Corral will likely open in the shuttered Old Country Buffet building.
3. Tamarack Village is an 800,000-sq.-ft. shopping center located right off I94 & Radio Dr. The center has over 60 stores and has recently announced the plans for the first Portillo’s restaurant in Minnesota. It is anchored by Cub Foods, The Home Depot, and DICK’s Sporting Goods. An 85,000-sq.-ft. Cabela’s is also in the development, one of their four Minnesota locations.
4. CityPlace is a 100-acre mixed-use development directly south of I94 on Radio Dr. Upon completion, it will have class A office space, high-end shopping and dining, lodging, and a 28-acre natural park for recreation. A dozen or so retail shops, a bank, and a hotel have already opened. TRIA will occupy the first of four phases for office space (75,000-125,000 sq. ft.), and Davis is in the planning stages for a 60,000-sq.-ft. class A medical office building.
OTHER SIGNIFICANT DEVELOPMENT(S)
Undeveloped LandRetailMixed-UseResidentialIndustrial
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 7
5. Anchored by Trader Joe’s and DSW Shoe, Woodbury Lakes is expanding to capitalize on the CityPlace development. Crave recently opened, and the development is under construction with a new entertainment center.
6. Many developments in the past few years have occurred in northeast Woodbury. Near I94, the Woodbury Plaza/Commerce Hill/CrossRoads Commerce/Woodbury Commons developments have been primarily retail and have anchors such as Sam’s Club, Target, and Walmart Supercenter.
7. The Urban Village/Bielenberg Gardens development is another up and coming project in southern Woodbury. The grocery-anchored retail center (Jerry’s Foods) totaling 147,800 square feet, will see further development in 2017 with a new 50,000-sq.-ft. Twin Cities Orthopedics facility, as well as senior housing and The Woodbury Flats (350 residential units).
8. In late 2016, national homebuilder DR Horton bought 128 acres of farmland for $9.85 million in the fastest growing part of Woodbury. The site will be home to nearly 400 housing units.
9. Tradition Homes is building 130 housing units just across the street from DR Horton development.
10. Summit Orthopedics recently completed a 14,450-sq.-ft. addition to the Bielenberg Sports Center. With the orthopedic group’s support, the Madison Claire Foundation opened Madison’s Place, the east metro’s first completely handicapped-accessible playground (16,000 sq. ft.).
11. The industrial Northeast Business Park is a plat of 600 acres of land. Woodbury Community Development Director Dwight Picha said the city has not been in contact with Amazon, which developed over 1 million sq. ft. in 2016, but said Woodbury could support such a user. Amazon recently constructed a nearly 1 million-sq.-ft. fulfillment center in Shakopee.
Additional … • A proposed $485 million Gold Line plan, which would help urbanize Woodbury,
is under scrutiny.
• Settlers Ridge Pkwy project includes expanding Settlers Ridge Pkwy from two to four lanes between Brookview Rd and Gateway Pl.
• The Roadway Rehab Project consists of 22 miles of roadway improvements. The project includes curb and gutter repairs, a roundabout at Pioneer Dr & Interlachen Pkwy, a storm sewer, trail and water system repairs, and other storm water quality improvements.
222 South 9th Street, Suite 3255, Minneapolis, MN 55402 | Phone: 612.338.4000 | davisrealestatemn.com
INSIGHTS Woodbury, Minnesota Written by: Michael Stein and Pat Saari
Page 8
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