First Industrial Realty Trust, Inc. is starting construction on the development of two facilities totaling 239,000 square feet on a recently acquired site known as the Interstate North Business Center in Brooklyn Park, Minn.
Located in the Northwest submarket at the northwest corner of Interstate-694 and Highway 81, the site offers direct access to Interstate-94 and Interstate-35.
First Industrial will build a 142,290-square-foot facility featuring 32-foot clear height suitable for a single user or up to three tenants. The company is also developing a 96,764-square-foot build-to-suit facility for Goodwill-Easter Seals Minnesota, leased on a long-term basis, which will serve as a donation processing and storage center and also house a Goodwill Outlet Store. Estimated investment for the two-building project is $19 million.
“The Minneapolis/St. Paul industrial market continues to enjoy demand from a wide variety of customers operating in and serving the diverse local economy,” said Chris Willson, First Industrial’s senior regional director and market leader for the Twin Cities, in a written statement. “We are pleased to meet the needs of our customer, Goodwill-Easter Seals, and add these high-quality, well-located facilities to our portfolio.”
First Industrial hosted a ground-breaking ceremony at the site May 21.
Anderson Companies will provide construction and development services for the project. Edward Farr Architects provided design services and BKBM Engineers serve as both civil and structural engineers. The buildings are expected to be completed for occupancy by the first quarter of 2015.