Cottage Grove on Monday finalized the sale of the site of a former Home Depot for redevelopment.
The city bought the Gateway North shopping complex property for about $2.25 million in November, and sold the building for $1.95 million to developer Grove-Rainbow. Cottage Grove officials had said the lower price was necessary to persuade developers to buy the property.
Development plans at the Home Depot site have not yet been announced.
The Hy-Vee grocery store chain bought a nearby building that previously housed a Rainbow Foods store. Work has started on that building, and the grocery store is slated to open by Oct. 1, 2017.