New Hermantown Market Space Hosts Groundbreaking

Once complete eight new buildings will be built on 12 acres of land available for small and large businesses to lease spaces.

HERMANTOWN, Minn.- An exciting new development center is coming to Hermantown.

The Hermantown Marketspace has been years in the making and broke ground on Wednesday.

The Hermantown Marketspace is located on Miller Trunk Highway by Haines and Stebner road. Once complete eight new buildings will be built on 12 acres of land available for small and large businesses to lease spaces.

“Anything you can think of that isn’t a strip mall will probably seek us out because this is going to be the new place to be,” Platinum Properties Business Owner Stevie Paulson said.

Overall the project will cost around 30 million dollars. Creating the Marketspace has been a vision for 14 years. The Mayor of Hermantown tells us it’s an exciting development.

“There’s room for more, there’s room for more large retail outlets, and there’s lots of room for smaller retail outlets,” Mayor of Hermantown Wayne Boucher said.

The first building will have four different units and is expected to be complete in January. Overall the Marketspace aims to be complete by 2020 but could take up to ten years.