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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 17 <br />Two industrial businesses built large new facilities, in 2014 and 2016. And three new <br />retail properties were developed. <br />Retail Market Context <br />From Highway 10 up to 198th Avenue, the Highway 169 corridor in Elk River offers an <br />array of businesses that provide an aggregate 2 million square feet of retail floor area. <br />This retail district is anchored by a Walmart store, and several grocery stores including <br />Cub Foods and Coborns. An additional 450 square feet of retail businesses are located <br />along the Highway 101 corridor just south of the Mississippi River, anchored by a Target <br />Store. These two highway oriented retail districts operate to some extent as a single <br />destination retail area. They were largely built out by 2010. <br />The closest competing highway oriented retail district to the Elk River/Otsego district is <br />in Rogers, with a distance of around 8 miles between the center of the two districts. The <br />highway oriented retail district in Rogers provides around 2.8 million square feet of retail <br />just on the north side of Interstate 94. <br />Because of the close proximity of a large highway oriented retail district in Rogers, the <br />trade area for the Elk River/Otsego retail district will be predominantly to the north of the <br />Mississippi River. The presence of competing Target and Walmart stores is one <br />influence on the trade area for a Target or Walmart anchored destination retail district. <br />The map below shows an approximate trade area for the Elk River/Otsego retail district. <br />Elk River/Otsego Highway Oriented Retail District – Approximate Retail Trade Area <br />