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.”
