Medtronic CRDM Campus
Mounds View, MN
1,200,000 SF
CresaPartners Minneapolis
Client Objectives
Medtronic is the world leader in medical technology providing lifelong solutions for people with chronic disease. To accommodate their quickly expanding Cardiac Rhythm Disease Management (CRDM) division, they needed 82 acres to construct a new headquarter campus in the Twin Cities metro area.
Result
After an arduous search, Medtronic decided on a location in Mounds View, the site of the struggling Bridges Golf Course. CresaPartners handled the negotiation of the purchase of the land as well as the receipt of economic incentives from the City. CresaPartners supported Medtronic in obtaining funding for interchange and roadway improvements from the State of Minnesota and in their efforts to pass legislation regarding TIF benefits. To acquire the amount of land necessary for future expansion, CresaPartners represented Medtronic in the purchase of two Blaine business locations. Additional challenges included the removal of billboards with long-term leases and significant wetland/stream relocation issues. In all, the 12-month negotiation process involved two cities, two counties, the State of Minnesota, and the Federal government.
The new headquarter facility will house Medtronic’s CRDM division, the largest and fastest-growing division currently spread across five locations in the metro area. The design of the new complex includes a fitness center, child care center, cafeteria, coffee shop, and convenience store. The project is expected to bring in thousands of new jobs and new revenue for the community. Phase I of the three-phase project, completed in September of 2007, consists of 1.2 million square feet and houses 3,000 employees. Phase II is expected to bring the entire facility to 1.5 million square feet.
Additional Assignments
Various services, ranging from strategic planning to national leasing for the past 15 years.