Colliers Senior Vice President Andy Heieie represented Enclave Companies, a real estate development firm, in its acquisition of a 7.06-acre development land site located at 6701 W. 78th St, Bloomington, Minnesota, from LTF Real Estate Company. This strategic off-market transaction was completed for $4.5 million.

The site, the former home to a Lifetime Fitness facility that was vacated in 2006 and subsequently demolished, will now be transformed into a mixed-use development. Enclave Companies plans to develop a five-story, 208-unit apartment building alongside an 11,000-square-foot standalone daycare facility.

When the Lifetime Fitness structure was demolished, the tennis court debris, laden with asbestos, was mixed into the soil. To address this environmental issue, Enclave Companies secured grants from the Minnesota Department of Employment and Economic Development and other sources to fund the $1.1 million cleanup. Enclave expects to break ground and start site remediation in August 2024 and will have a 22-month construction period.

Photo: Kaas Wilson Architects