November 21, 2024 2:17 pm
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Arizona group pays $4.05M for Island Station

An Arizona-based entity has purchased the Island Station property at 380 Randolph Ave. in St. Paul for $4.05 million, according to certificate of real estate value filed in Ramsey County. / File photo- Bill Klotz
An Arizona-based entity has purchased the Island Station property at 380 Randolph Ave. in St. Paul for $4.05 million, according to certificate of real estate value filed in Ramsey County. / File photo- Bill Klotz

By Brian Johnson | Finance and Commerce

Eight years after being put up for sale, the Island Station power plant site in St. Paul finally has a buyer.

Burnsville-based Breckner River Development sold the property at 380 Randolph Ave. to Scottsdale, Ariz.-based St. Paul River Walk LLC for $4.05 million, according to a certificate of real estate value that became public Tuesday.

The deal, which closed Sept. 30, included a down payment of $1.62 million and contract for deed, according to the CRV.

Robert Graham, a principal with St. Paul Riverwalk, declined to go into specifics about what type of development may end up on the 9.56-acre site, but he said there has been “lots of interest from various groups looking at different development models.”

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