JLL Minneapolis – St. Paul Snapshots:
Infill sites are attracting an unprecedented share of industrial investment
•With the Minneapolis-St. Paul unemployment rate of 4.2%, one of the lowest in the nation, firms are reconsidering their real estate strategy in order to capture more talent. Despite the higher costs of infill development, new industrial parks like NorthPark in Brooklyn Park and Northern Stacks in Fridley are seeing significant demand. A central location naturally increases the labor pool living within a reasonable drive and often means closer proximity to executives.
•Class A features primarily found in new construction are also important for attracting and retaining employees. Break rooms are more thoughtfully designed. Natural light is increasingly being incorporated into warehouse architecture. And landlords are finding that beautifully landscaped grounds appease both employees and neighbors.
Source: JLL Research
Click to download JLL Minneapolis – St. Paul Snapshot: April 10, 2017