Dave Olson, Published October 14 2013
Former Dilworth Wal-Mart lands major tenant
Thurlow said Monday he was not at liberty to discuss too many details regarding the new business coming to town before a news conference set for this afternoon.
He said, however, the company is tied to the pharmaceutical industry and its presence will have a large impact on the region.
Monte Kjos, who owns the building at 1711 Center Ave. W., said the company involved has signed a five-year lease.
Kjos said he didn’t know what name the company would be operating under in Dilworth, but he said it was his impression the business has ties to well-known names in the pharmaceutical world and that its work in Dilworth may involve research.
The Clay County government website states the building was constructed in 1992.
Wal-Mart moved out when a new Wal-Mart opened nearby in 2007, and the space has been periodically leased for various uses since then.
Sanford Health leased the building for about three years, using it for a training center.
Thurlow said the city extended border city tax credits to the new tenant, which will cover the cost of property taxes on the building for two years.
With the cost of property taxes on the roughly 120,000-square-foot building amounting to about $10,000 a month, Thurlow said the value of the credits is expected to be about a quarter of a million dollars.
He said the new occupant may finish remodeling the building and open by April.
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