Ultimately, Wall's goal is to develop 16 buildings totaling 1.6 million sf of laboratory, manufacturing and office space over the next eight to 10 years. A year ago, the Wall Cos. was named the exclusive developer of the property by the City of Minneapolis and the Minneapolis Community Development Agency (MCDA).

The University Research Park, under development near the East Bank of the U, is counting on the nearby University Enterprise Labs, a biosciences incubator project in which the University of Minnesota is a partner, to provide tenants. The project recently scrapped its plans to build an incubator-—once a centerpiece of the park-—because of the associated costs, Wall says.

Wall Cos. is a diversified collection of enterprises focused on real estate development and banking, including ownership of Highland Bank with seven metro-area locations and more than $300 million in assets. The Wall Cos. has developed residential units, retail, office and industrial properties in several states. Among the project it has built, owned and managed real estate developments are Stone Arch Apartments, Highland Bank Court, St. Anthony Village Shopping Center, Main Street Crossing in White Bear Lake, Metro Office Park, Normandale Office Park, and the restoration and renovation of landmark Foshay Tower.