Colliers Lists 153-Unit WaterWalk in Plymouth
The Plymouth property, half extended-stay suites and half apartments, is marketed with three conversion and retention options.
Updated on Nov. 12, 2026 in Commercial
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Colliers has listed the 153-unit WaterWalk property at 10000 59th Ave. N. in Plymouth for sale, with no asking price disclosed. The building, built in 2020 for $25 million, is currently split evenly between extended-stay suites and apartments.
Why it matters
The listing offers buyers three paths: keep the current mix, convert to a hotel, or convert to apartments. For the Plymouth market, the sale tests how extended-stay housing performs against traditional rentals in the west metro.
The 153-unit property was built in 2020 for $25 million and carries a 5.9% vacancy rate per a Catylist listing. Hennepin County's estimated market value is $21.4 million, while its 2025 value is $22.7 million, and no asking price has been disclosed.
The players
Colliers
Colliers is a global commercial real estate services firm whose agents are marketing the WaterWalk property for sale.
Zion Holdings LLC
Zion Holdings LLC is a Stillwater-based developer that built the WaterWalk property in Plymouth.
The details
Utilities and Wi-Fi are currently included in apartment rents, with no bulk internet or RUBS fee charged. Adding those fees could generate $105,000 per year, according to the listing's projections, and the property was developed by Zion Holdings LLC of Stillwater.
Timeline
2018: The property was pitched as a corporate lodging project.
2020: The WaterWalk property was built.
2025: Hennepin County valued the property at $22.7 million.
- 2026-11-12
Colliers published the listing for WaterWalk.
Market Landscape
The WaterWalk listing places a 2020 mixed-use build against a west metro market where extended-stay suites serve corporate travelers and relocating households near nearby employers. The three marketed paths, retaining the mix, converting to a hotel, or converting to apartments, show how owners weigh that niche against conventional rentals.
For Plymouth renters, the property's current practice of including utilities and Wi-Fi in rent could change if bulk internet or RUBS fees are added. Residents weighing a home purchase should note that the listing compares average Plymouth home costs of $676,000 over six months, with ownership costing 2.7 times monthly renting.
The takeaway
Owners of mixed-use properties in the west metro are weighing whether extended-stay housing or conventional apartments will hold value, and the WaterWalk sale will show how buyers price that choice.
Further reading
For more on commercial property trends, see Commercial coverage across the Plymouth area.
Source note: This article includes information reported by Finance & Commerce.
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