CBRE has arranged the acquisition of 111 acres of developable land in Fargo, North Dakota. The site was acquired by Hyde Development in a transaction that closed Oct. 14, 2022. A sale price was not disclosed.
The new development will be known as Dakota Commerce Center North and can accommodate 1.4 million total square feet. In addition to speculative construction, Hyde Development will be offering industrial users the flexibility for build-to-suit footprints ranging from 20,000 square feet to 500,000 square feet. The development is strategically located with access to I-29 and Hector International Airport.
CBRE’s Chance Lindsey and Kyle Ferderer represented the buyer and developer, Hyde Development, in the transaction. The brokers were subsequently awarded the leasing assignment for Dakota Commerce Center North.
Dakota Commerce Center North builds on the success of Hyde Development’s Dakota Commerce Center, a four-building 633,200-square-foot industrial park that broke ground in August of 2021. To date, two buildings in the previous development have been completed and are fully leased. Building 3 in that development, a 199,600-square-foot facility, is slated to complete in August 2023 and is available for lease.