and Reuter Walton Construction break ground on Bridgewater Bank’s new corporate center in St. Louis Park, Minn.
Minneapolis’ fast-growing Bridgewater Bank is looking to open a new corporate center in St. Louis Park in 2020.
Representatives from Bridgewater Bank, the City of St. Louis Park, Reuter Walton Construction and DJR Architecture, Inc., attended the ceremony to break ground on the project on Aug. 8. The approximately 84,000 square-foot, four-story building will include retail and office space and is expected to be completed in the first quarter of 2020.
“This marks an exciting new chapter for Bridgewater Bank and the city,” said President and CEO Jerry Baack. “Our corporate center positions us as a premier employer in St. Louis Park, while providing the right infrastructure for anticipated growth.”
Based in Bloomington, Bridgewater has had a busy few years. It went public in the first quarter of this year, raising $58.4 million in its IPO and joining the Community Bank Index, after raising $25 million in a private placement last summer. The $1.7 billion Bridgewater will open a branch in downtown St. Paul later this year, after adding four other metro area offices through its acquisition of First National Bank of the Lakes, Orono, Minn., in 2016.
When complete, Bridgewater’s new state-of-the-art corporate center will be located on the corner of Monterey Drive and Excelsior Boulevard in St. Louis Park. The first floor will feature Bridgewater’s full-service retail space, where a concierge-style team will serve clients, as well as space for tenants. The second, third and fourth floors will include the bank’s corporate offices and opportunities for additional tenants. Building amenities include a plaza with outdoor seating and space for public art. Three levels of structured parking adjacent to the building will ensure ease of access to the facility.
Bridgewater currently has a branch near the site of the future corporate center which will merge into it following construction.
The bank has five other branches, two in Minneapolis and one each in Bloomington, Greenwood and Navarre, Minn.