Search
 

LWP Buys Land for $35M Distribution Center

SHAKOPEE, MN-The 580,000-square-foot planned property will be a giant amongst a small-building market, from 45 acres sold by Opus Development Corp.

By Robert Carr | Updated on February 27, 2012

SHAKOPEE, MN-Opus Development Corp. has shed more than half of about 75 acres it owns here, selling 45 acres to Lake Washington Partners.  The buyer will build a 580,000-square-foot distribution center for SanMar, an apparel manufacturer, in a reported $35 million investment, which is rather a large building for the area’s industrial market.

Tony Phelps, senior director of development at Opus, tells GlobeSt.com that his firm completed a few industrial projects at its land at Canterbury Road and Fourth Avenue, and decided to sell off the rest. Phelps represented his firm in the reported $5.3 million sale, and Cassidy Turley represented Sanmar. A spokeswoman for SanMar did not return a call for comment for this story.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.