MDH Partners has acquired Rogers Logistics Center, a 285,582-square-foot bulk Class-A warehouse building in Rogers, Minnesota, a suburb of Minneapolis.
The acquisition marks the first purchase in Minnesota for the Atlanta-based firm. Houston Hawley served as the acquisition lead for MDH Partners. Judd Welliver and Bentley Smith with CBRE represented the seller.
Constructed in 2004, Rogers Logistics Center is situated on 15.2 acres and located at 20000 S. Diamond Lake Road. The center features clear heights up to 32 feet, ESFR sprinkler systems, 33 exterior dock doors and 215 car parking spaces.
Rogers Logistics Center is located in the Minneapolis/St. Paul industrial market and ideally positioned only one mile west of an access point to I-94, which opens to I-494 and the Minneapolis-Saint Paul International Airport. This proximity provides increased efficiency through the main east-to-west artery of Minneapolis, creating a distribution point for the Northern United States. Minnesota is home to the headquarters of 18 Fortune 500 companies including UnitedHealth Group, Target, Best Buy and U.S Bancorp.
Developed as a build-to-suit for Archway Marketing Services Inc., Rogers Logistics Center has been 100 percent occupied since completion. Archway Marketing Services Inc. is a world-class marketing supply chain leader, and will continue to occupy the building until at least January 2026. The company is the leading provider of marketing logistics, fulfillment services and supply chain management solutions. Headquartered in Rogers, Minnesota, Archway Marketing Services Inc. has approximately 1,500 employees and operates 3.5 million square feet of distribution spaces in 13 major metropolitan areas in North America.
According to CBRE, the Minneapolis industrial market saw nearly 1.2 million square feet of space absorbed in the second quarter. This brings the year-to-date total to 2.6 million square feet of space absorbed, nearly the total for all space absorbed in the Minneapolis industrial market in 2020. Rogers Logistics Center is located in the Northwest industrial submarket, the largest and most active industrial submarket in Minneapolis. The Northwest industrial submarket accounted for 43 percent of all transactions in the second quarter.
MDH Partners has remained very active in 2021, acquiring nearly 5 million square feet of industrial assets since January. In addition to Minnesota, the firm has recently expanded its portfolio into new markets including California, Maryland, Ohio, Illinois and Pennsylvania. The firm currently owns over 70 assets across 16 states.