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Hillcrest Development tackles Watkins Building makeover

Anne Bretts


The 2022 decision by Vision Loss Resources Inc., to move out of its home at 1936 Lyndale Ave. S after 75 years threatened to leave a largely empty 80,000-square-foot shell on 2.05 acres at the corner of Franklin and Lyndale avenues in the Wedge neighborhood in Minneapolis.


It probably won’t be empty long.

Minneapolis-based Hillcrest Development LLLP has paid $2.86 million for what’s known as The Watkins Building and is already working on a total makeover.


WSFC LLC, a Hillcrest entity, closed May 2 on the cash acquisition from the nonprofit, which has moved to its new headquarters in Little Canada.


The timing worked well for Hillcrest, said its CFO, Mark Walter.


“This was a 1031 exchange, and we were very motivated to purchase a replacement property” he said in an email interview. Hillcrest envisions a commercial redevelopment of the building, a neighborhood landmark since it opened in 1900.


Walter said the building will be positioned to house commercial tenants seeking retail, creative office, production/light assembly/flex, warehouse, and storage uses.


“The Watkins Building is unique as it has significant off-street parking, which is extremely rare,” Walter said. Other amenities will include brick and timber finishes, loading facilities, private entrances for specific spaces, signage opportunities and quick occupancies for spaces.


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