The area is one of "the Twin Cities' highest growth areas," says Kent Carlson, a vice president at Minneapolis-based Ryan Cos.
"The 610 Business Center is a premier site and one of the few remaining large tracts of land available for commercial development in the northwest suburban Twin Cities area," says Chris Hickok, vice president of office brokerage at Bloomington, MN-based United Properties, and lead broker on the project.
Although no deals have been signed yet, Hickok says interest is high among prospective owners or tenants for both office and industrial space. Interest is especially keen among those who are interested in build-to-suit office or high-finish industrial space as part of a business park.
The proposed multi-story office site can handle requirements of up to 80,000 sf of office space. There are three separate higher-end industrial sites planned within the center, to accommodate a total of up to 448,200 sf of high-finish industrial space such as office-warehouse and office-showroom buildings.
Parking ratios of five spaces per 1,000 sf of development are planned for both office and industrial uses.
Plans also call for development of a 72,000-sf conference and training center and two 5,000-sftrestaurants.
The park is one of the first new projects along the recently opened Hwy. 610 with interchange access to site, Hickok said. The site is also accessible to Hwy. 169, including connections to the I-94/694 loop to the south. The business park could draw employees from as far away as St. Cloud, which is more than 70 miles away.
Ryan Co., which has done more than 400 design-build projects in 100 cities and 10 states over the past decade, will offer financing, design, construction, ownership, leasing and property management. United Properties is a full-service commercial real estate company with 350 employees and 23 million sf of office, industrial, retail and multi-family properties under management.
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