The Opus Group announced today the start of construction on an industrial build-to-suit in Shakopee, a Southwestern suburb of the Twin Cities. Once complete, Cherne Industries will occupy the 131,000-square-foot building as its new headquarters and manufacturing facility.
“Collaborating with our partners and the city of Shakopee, our fully-integrated team partnered with Cherne's vision and to create a state-of-the-art facility that will suit their needs well into the future," said Joe Mahoney, senior manager of real estate development at Opus. “We look forward to supporting Cherne in creating a world class space that leverages both the dynamic manufacturing needs while also accommodating a first class environment for their growing workforce."
Located on the corner of Old Brick Yard Road and Vierling Drive in Shakopee, the development will have visibility and direct access to Highway 169. The building will feature 32-foot clear height, 8 dock doors, 3 drive-in doors and 177 parking stalls. To increase the sustainability of the building, the rooftop will house a solar array providing 888 kilowatts of energy. The company's 115-person workforce will have access to shared amenities such as a state-of-the-art fitness center, locker room, a multi-faith prayer room and more.
“Team Cherne is very excited to watch our new world headquarters, designed and built by the Opus Group, take shape in the city of Shakopee," said David Biron, General Manager at Cherne Industries. This facility will allow Cherne to continue its aggressive growth pattern by servicing the needs of our customers, providing a first-class customer experience and having a workplace environment that is top notch for our associates."
Opus is providing development services and is the design-builder, interior designer and architect and engineer of record. Cabot Properties will own the building. Colliers represented Opus with the purchase of the property and lease, AREA Commercial Real Estate Advisors represented Cherne and CBRE facilitated the financing of the project. The project is slated for an early 2021 completion.
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, student living, senior living, institutional and retail projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter and @theopusgroup on Instagram.
About Cabot Properties:
Cabot Properties is an international private equity real estate investment firm exclusively focused on industrial properties. Formed in 1986, the firm is a leading investor, developer and operator of industrial properties throughout North America, the United Kingdom and Europe. Cabot is focused on producing attractive investment returns by targeting industrial buildings that serve major populations and modern logistics tenants. Cabot has invested $10 billion in industrial real estate, managing and operating over 3,800 tenants in over 1,400 buildings totaling approximately 180 million square feet (as of December 31, 2019). Cabot is headquartered in Boston with offices in London and Sydney.