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Nearly 85 percent of community members surveyed expect Williston Crossing project will improve their quality of life
WILLISTON, ND, April 7, 2015 — North Dakota’s premier mixed-use development, Williston Crossing, is moving full steam ahead. The Williams County Board of County Commissioners today granted entitlement for the development by a vote of three to two. Stropiq, Inc., the international real estate principals behind the ambitious retail-driven project will now move forward into the pre-leasing stage.
Stropiq, Inc. and its advisor JLL, plan to gauge and secure retailer interest as part of the next phase of the project at the upcoming International Council of Shopping Centers Real Estate Conference in Las Vegas in May. The first phase of the development is slated to include 350,000 square feet of retail space, which would ideally include a theater, restaurants and retail stores. Stropiq expects to break ground on the project as early as 2016. Subsequent phases of the development will be based on growth and demand, but at completion Williston Crossing is expected to encompass approximately one million square feet of retail and entertainment, plus a hotel and waterpark space, with a mix of office and multifamily options.
“Having spent two decades in emerging markets before returning to North Dakota, I’ve seen how transformative a development like this can be for a region,” said Stropiq Principal Terry Olin. “We were very impressed with the County Commission’s careful consideration of Williston Crossing and are looking forward to the day they will join us with shovels in hand to break ground on this exciting development.”
According to a recent survey conducted by JLL and Stropiq of Williams County and City of Williston residents, nearly 96 percent of respondents indicated that region doesn’t have enough retail options to satisfy their needs. When asked how respondents feel about Williston Crossing being built in in their community, nearly 78 percent said “thrilled,” with nearly 85 percent indicating they believe the Williston Crossing project will improve their quality of life.
“How it is even possible that the 30,000 residents of Williston – the Bakken Shale’s de facto capital – have literally one store in which a men’s suit can be bought within 125 miles?” said Stropiq’s other Principal, Ellen Simone Weyrauch. “In a region the size of Switzerland, Williston Crossing will make an immediate impact for residents, expanding their retail horizons exponentially.”
Williston Crossing will be constructed in the “Dakota Modern” theme, a design concept created by Gensler, the master architects on the project, which brings together man-made and natural materials to reflect regional character and local style. The location is the intersection of Highway 2 and the NW Bypass just north of the city of Williston. JLL has been advising on the project since its inception. To learn more visit: http://www.us.jll.com/united-states/en-us/services/industries/retail/williston-crossing
JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 90 retail brokerage experts spanning more than 25 major markets, representing more than 440 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has 350 centers, totaling 67 million square feet under management in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects. For further information, visit www.jllretail.com
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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