General Mills, one of the world’s largest food companies, will lease 64,000 square feet of industrial space at Minnetonka, Minn.-based Carlson Real Estate Company’s 1105 Xenium Distribution Center.
This is good news for the distribution center located in Plymouth, Minn. Office Depot last summer consolidated its office space, leaving 40 percent of the Xenium Distribution Center’s space empty. General Mills will now occupy about half of this space.
Larry Olimb, director at Carlson Real Estate Company, said that the General Mills deal came together quickly. The building made sense for the company because of its location within the Interstate-494/694 loop. It also features 32-foot clear heights, an attractive feature to General Mills.
Jim Jetland and Jason Meyer of NorthMarq Real Estate Services represented General Mills in the transaction.
The General Mills lease will boost the occupancy of the 335,000-square-foot industrial property to 80 percent, leaving 68,000 square feet still available for lease.
