CBRE has arranged the acquisition of 57 acres of land across three parcels that will be the site of five new industrial buildings at Arbor Lakes Business Park in Maple Grove, Minnesota.
CBRE’s Dan Swartz and Austin Lovin represented the buyer, Endeavor Development, in the transaction. The brokers were subsequently retained by Endeavor Development to market buildings 5-9 at the new development.
Buildings 5 and 6 are underway now and are being built on a speculative basis. The speculative buildings will both be 203,030 square feet, have 32’ clear heights, and have available build-to-suit office space. Building 7 will move forward as a 106,424 square foot build-to-suit project. Buildings 8 and 9 would both be 183,924 square feet.
According to a recent CBRE report, the Northwest was the most active industrial submarket in Minneapolis with 3.9 million square feet of positive absorption 2022, representing 45% of Minneapolis’ total absorption for the year.
