The Opus Group (Opus) announced today plans to construct an 86,000-square-foot speculative industrial building at the St. Paul Port Authority's
Beacon Bluff Business Center. Construction is slated to begin in June and the building is expected to be completed in the end of 2018.
“We are excited to be working with the St. Paul Port Authority to introduce a dynamic speculative industrial development to the Beacon Bluff Business Center and the St. Paul market," said Phil Cattanach, senior director, real estate development, Opus Development Company, L.L.C. “We're pleased to collaborate with the Port Authority to create a market-responsive solution that meets the demands for functional industrial space in St. Paul. We look forward to transforming an infill site to ultimately bring new businesses and jobs to the community."
Beacon Bluff Business Center is an office and industrial redevelopment, encompassing 11 parcels on nearly 40 acres of formerly contaminated land. The Business Center is situated off Phalen Boulevard, near Interstates 35E and 94 and the Minneapolis-St. Paul International Airport. The site offers reduced utility and energy costs through a partnership with Xcel Energy, proximity to more than 30 higher education institutions and access to St. Paul's qualified workforce. Opus' industrial building will feature 24 foot clear height, maintenance-free exposed aggregate and precast and an underground storm water system.
“This is an exciting time at Beacon Bluff, and I want to thank Opus for their ongoing commitment to the City of Saint Paul," said Lee Kruger, president, St. Paul Port Authority. “The Opus closing is the first of three scheduled this summer, after which all large industrial parcels at Beacon Bluff will officially be sold. I am confident that as each business gets up and running, we will meet our goal of 1,000 jobs at the former 3M site."
Opus' recent portfolio of work includes more than 5.4 million square feet of industrial developments currently under construction or completed in the past 24 months across the United States.
Opus Development Company, L.L.C. is the developer, Opus Design Build, L.L.C. is the design-builder and Opus AE Group, L.L.C. is the architect and structural engineer of record. Solutions Blue is the civil engineer. The property is being marketed for lease by Todd Hanson and Jason Sell of Cushman & Wakefield.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail, healthcare and institutional projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers speed, cost savings and best overall value for clients. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter.