Additional Industrial Projects Underway and Slated for Completion in 2023
The Opus Group (Opus) today announced the completion of three speculative industrial developments – Nordeast Business Center in Minneapolis, Sanctuary Business Center in Blaine, Minn., and Johnny Cake Business Center in Apple Valley, Minn..“Despite higher interest rates and uncertainty in capital markets, we continue to see strong demand from industrial users in the Greater Twin Cities market," said Phil Cattanach, Opus senior vice president and general manager.
Nordeast Business Center, at the corner of University Avenue and 37th Avenue NE, offers proximity to downtown Minneapolis, I-694 and I-94. The 130,439-square-foot building has flexibility to accommodate a variety of tenants by offering a 32-foot clear height, multiple loading doors, and plenty of vehicle and trailer parking. Greentech Renewables, a distributor that provides resources to design, finance, sell, and install PV (solar photovoltaics) and energy storage solutions, and Consolidated Electrical Distributors (CED), one of the largest electrical solutions distributors and product suppliers in the country, recently leased 90,000 square feet. CBRE is marketing the remaining 40,439 square feet for lease.
Sanctuary Business Center, located 15 miles north of Minneapolis, offers immediate access to Interstate 35W. The 137,178-square-foot building has a 32-foot clear height, abundant vehicle and trailer parking, and loading options to optimize operating efficiency. Recently ORS Nasco, a wholesaler of industrial supplies selling exclusively to distributors throughout North America, leased 45,642 square feet. Cushman & Wakefield is marketing the remaining 91,536 square feet for lease.
Johnny Cake Business Center, located at 6175 147th Street West in Apple Valley, is conveniently situated near Interstates 35W and 494. The 111,820-square-foot building has a 28-foot clear height, 26 dock doors, up to 204 vehicle parking stalls, and can accommodate multiple tenants for manufacturing, warehouse and distribution operations. Colliers is marketing the space for lease.
Opus was the developer, design-builder and architect and structural engineer of record on the projects.
In 2022, Opus announced construction on 13 industrial developments across its eight U.S. markets, including two Minnesota projects that are currently under construction: Climate by Design Headquarters in Owatonna and River Valley Business Park in Shakopee.