MINNEAPOLIS—Tenants in the Minneapolis metro region are eager to soak up available industrial space. Landlords that control class A space are doing especially well, and an increasing number have filled up their newest buildings. Liberty Property Trust signed three lease agreements totaling 327,124 square feet in the fourth quarter of 2016, including two that brought its Dayton Distribution Center I to 92% occupancy.
“The Minneapolis Metro saw strong activity throughout the second half of last year,” says Neal Driscoll, vice president, market officer. “With vacancy rates at an all-time low in the area, having quality product available is a major advantage.”
At Dayton Distribution Center I, located at 11020 Holly Ln. North in northwest suburban Dayton, Spears Manufacturing Co. will occupy 142,680 square feet and King Solutions, Inc. will relocate into 84,837 square feet of space. Both companies will occupy the spaces this spring. Completed in 2015, the 247,004 square foot class A industrial building offers 32' clear heights and easy access to I-94.
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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.
