CBRE announced that Pelican BioThermal, which specializes in thermal protection packaging solutions, has expanded and moved its headquarters to Maple Grove, Minnesota.
The company leased 117,242 square feet of distribution and production space at 10100 89th Ave. N to move and consolidate its operations and promote production efficiency. The company previously occupied 70,000 square feet of space in Plymouth, Minnesota.
CBRE’s Jared Scaringe, Ryan Foley and Mike Bowen represented Pelican BioThermal in lease negotiations.
Shortly after expanding and relocating its headquarters, Pelican BioThermal also expanded and opened a new 54,060-square-foot warehouse-distribution facility in Valencia, California.
CBRE’s Ryan Foley and Jared Scaringe represented Pelican in an extremely competitive market with a vacancy rate of nearly 1 percent. The BioThermal division is currently in the process of moving in and plans to be fully operational later this year.
Pelican BioThermal manufactures temperature-controlled solutions for the safe transport of pharmaceuticals, clinical trials, diagnostics, tissue, vaccines and blood supplies. These include temperature-controlled shippers for global transport of life-saving products, including COVID-19 vaccines, therapies, and patient samples.