Lake Lorraine’s next phase: Hotels, shops, dining and more
May 20, 2019
There’s one property on Kristen Zueger’s list to market at RECON this year, but the opportunities are enough to fill days of meetings.
“This year, I have more meetings than I ever have, and a lot of them have come to me,” said Zueger, who is wrapping up her career as a commercial real estate agent with Van Buskirk Cos. before transitioning into leadership at Sanford Health Foundation in Sioux Falls.
As word has spread in the retail industry about the success of retailers at Lake Lorraine, it has attracted additional interest.
“The sales of the retailers are solidifying the development,” Zueger said. “We’re for real. And it’s also the combination of uses that excites me the most.”
There is interest from boutiques going into the newest building, which also includes Moe’s Home Collection.
And Zueger is meeting with potential tenants for space envisioned along the lake.
“I have restaurant concepts we haven’t been able to get in with before, which really excites me,” she said. “They’re liking the lakeside views and that ability to sit outside. These are some we’ll go to in Omaha or see in the Twin Cities, concepts that are national, so those are the ones I’m most excited about.”
She also has interest from entertainment uses, offices and service-related businesses.
“I’m really happy with the momentum that’s going, and I think it’ll just continue,” she said. “I think we’re going to see some significant movement out there.”
The development is adding two hotels this year. The first, Hyatt Place, is under construction on the north side of Lake Lorraine.
The 112-room hotel will include an indoor pool, fitness center, patio and rooms with balconies overlooking the lake.
Hyatt Place also includes a free hot breakfast, grab-and-go marketplace, a bar that serves appetizers and a 24-hour business center.
It’s scheduled to open in June 2020.
The second hotel, Aloft, is still coming to the development but likely about a year after Hyatt.
Aloft is a boutique-style hotel that also features a bar and lounge area.
Lake Lorraine has about 15 acres left to sell that could be a fit for local businesses as well as national.
“There’s opportunity for local business owners to build their business on the available land,” co-developer Steve Van Buskirk said. “There is a bit of misperception it’s all planned out and done, but there’s land to come build their own business and be part of this environment.”
