MINNEAPOLIS-Milestone AV Technologies has just signed a three-year lease on a 106,000-square-foot warehouse owned by Virginia Retirement Systems in Shakopee, MN, a town about 23 miles southwest of Minneapolis.
“It's a smaller footprint than they were paying on,” Dave Paradise, senior director of Cushman & Wakefield/NorthMarq, told GlobeSt.com. He represented VRS and TA Associates Realty, their adviser, in the transaction. Milestone will move its Twin Cities' bulk distribution operation from an approximately 140,000-square-foot building in nearby Roseville to Shakopee this September.
Paradise won't disclose details about the lease but did say Milestone, a Minnesota-based distributor of consumer electronics such as home-theater equipment with offices worldwide, will probably pay less per square foot in their new building. It has a 32-foot clearance, about eight feet higher than their present location, and this will allow them to increase their operational efficiency by stacking more goods in a smaller space.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
