Construction activity continues to pick up in one of the hottest of the Midwest’s commercial real estate markets, the Minneapolis/Saint Paul area.
One of the latest big projects? Minneapolis’ Ryan Companies has started construction on a multi-million-dollar office, manufacturing and warehouse facility for Olympus Surgical Technologies America.
Located in the suburb of Brooklyn Park, Minn., the two-story 180,000-square-foot facility will allow Olympus to consolidate into one building operations that are currently housed in five. The result will be a new international surgical center with research, design and production functions.
Construction crews are scheduled to complete the new building by September of 2014. The facility is expected to eventually create 100 new jobs in the area.
Executives and employees from Ryan Companies, Olympus and Jones Lang LaSalle celebrated a ground-breaking ceremony at the construction site on Dec. 13 of last year. Several Minnesota politicians and business leaders also attended the event, including Gov. Mark Dayton and Jeffrey Lunde, the mayor of Brooklyn Park.
“We are thrilled to be working with Olympus on a new solution to expand their business,” said Casey Hankinson, Ryan’s vice president of development in its NorthCentral Region. “A complex development on an accelerated timeline is a strength of ours. This is especially true of projects in Brooklyn Park, where we’ve built almost 4 million square feet.”