MINNEAPOLIS—The Twin Cities region continues to show remarkable strength in many commercial real estate sectors, including industrial. In just the latest sign of that health, in July the Trammell Crow Company, a Los Angeles-based subsidiary of the CBRE Group, Inc., will begin developing a 185,470-square-foot speculative industrial development in suburban Roseville. They will build the project, known as the “Midtown Business Center,” on approximately 13 acres and complete it by December.
“We are very excited about the opportunity to be working with TCC on the Midtown Business Center project,” says Matt Oelschlager, first vice president with CBRE's Bloomington, MN office, who, along with CBRE's John Ryden, will market the property. “It provides a unique opportunity to the market, offering Class A industrial space in a prime in-fill location. We're confident it will be a very successful project.”
The 13-acre land site sits within a highly-active industrial park and offers direct access to I-35W, MN-36 and MN-280. In addition, the parcel is only four miles from the Minneapolis CBD, and TCC officials say that makes it the nearest site that can host a project of this size. The proposed building will feature 32' clear height, 28 loading docks, 2 drive-in doors, an ESFR sprinkler system, 24 trailer drops and 155 car parking spaces.
Edward Farr Architects will serve as lead architect for the project and R.J. Ryan Construction will serve as the general contractor.
Trammell Crow has recently been very active throughout the metropolitan area. Last month, the firm broke ground on Junction Flats, a new transit-oriented multi-family community in downtown Minneapolis which will have 182 luxury residential apartments. Furthermore, two weeks before that, TCC began another six-story, 260,000-square-foot building with 165 luxury residential units on two acres in suburban Golden Hills.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
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.
