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Charles Pfeffer, president of Maple Grove-based Pfeffer Co. Inc., has brokered land for the <br />Monticello Industrial Park for about r2 years. Pfeffer would not disclose the owner's name. <br />Pfeffer said city leaders can spend tax dollars on a real estate play if they want to, but he added that <br />"maybe the city council should evaluate the need for assets that would serve a broader range than to <br />do a speculative purchase." <br />The Monticello Industrial Park has seen some sale activity in recent years, Pfeffer said, but industrial <br />development has been slow there, like in the rest of the metropolitan area. <br />However, Monticello is along the rapidly growing I-94 corridor between Minneapolis and St. Cloud. <br />It is seeing strong demand for retail projects at the intersection of Highway 25 and I-94. Several big- <br />box retailers including Target, Wal-Mart and Home Depot are considering Monticello, and <br />Wolfsteller expects that within three years the city will have some of those stores located in that area, <br />he said. "They're al] interested in Monticello; we meet with one of them almost every other day." <br />ssmith@bizjournals.com ~ (6zz) 288-2zo~ <br />