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WOODBURY AT A GLANCE · PDF file 222 South 9th Street, Suite 3255, Minneapolis, MN 55402 Phone: 612.338.4000 davisrealestatemn.com INSIGHTS Woodbury, Minnesota Written by: Michael

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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 GLANCE 2017 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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    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 Growth 2000 – 2040

    Woodbury Washington County Total

    Woodbury and County Population Growth 2000 – 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/Regional Expected Population Growth by %

    2000 – 2040

    Woodbury/County/Regional Expected Employment Growth by %

    2010 – 2040

    Woodbury Growth Washington County Growth

    Regional Growth

    0

    10%

    20%

    30%

    40%

    2010 2020 2030 2040

    Year Woodbury 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 Land Retail Mixed-Use Residential Industrial

  • 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