New retail building by Northern Tool gets green light from planning commission

Five Below discount store likely to fill new space

Forest Lake will likely soon get discount store Five Below if the council approves a planned expansion to the Westlake Center, the shopping plaza that currently holds Aldi, Michaels, Northern Tool, and PetSmart. The expansion will actually be a separate building directly to the north of the current plaza, just south of the future Mr. Car Wash between Speedway and Huntington Bank. Current design plans show the new shopping area will take over the green space behind Speedway and entrances will be perpendicular to Northern Tool.

Rivercrest Realty Investors, a retail property investment company based in Raleigh, North Carolina, owns the Westlake Center and the green property. Brian Holder, a member of Rivercrests’s development team, spoke to the planning commission during its meeting on Wednesday, Jan. 24, and said there had been no initial plans on building on the green site, which had been part of the company’s ownership. Five Below had been hoping to get into the current Michael’s site and continued asking about further opportunities, which pushed Rivercrest into considering a further expansion. It’s expected Five Below will be one of the tenants in the 9,600-square-foot building, though the discount store hasn't been finalized as such.

Planning Commission member Susan Young had requested more easement space for a larger sidewalk, hoping for a 15-foot easement. Ultimately, the planning commission approved the city staff’s recommendation. The council is expected to pick up the vote on the final approval of the planned unit development at its Feb. 26 meeting.