JLL Minneapolis – St. Paul Snapshots:
United Properties and Hyde Development are the most active local industrial developers right now
- The largest industrial project currently under construction is United Properties’ 402,000 square foot build-to-suit bulk warehouse for Distribution Alternatives in Lino Lakes. The Pohlad family-owned development firm is also constructing the Mendota Heights Business Park, which encompasses nearly 100,000 square feet of office showroom. Approximately half is preleased by Kendell Doors.
- Hyde Development has been busy at the Northern Stacks infill development site in Fridley. Buildings III and IV are currently underway, both with significant preleasing. Vstar Entertainment Group recently signed for a 105,000 s.f. lease at IV.
- Scannell, UP, Launch Properties, Liberty, Industrial Equities, Opus, Ryan, Duke, and Buhl Investors all have more planned developments in the pipeline. Who will be the next to break ground in our market?
Source: JLL Research, RCA Analytics
Click to download JLL Minneapolis – St. Paul Snapshot: April 3, 2017