Last week, we wrote here about the burgeoning Twin Cities market for industrial property.
On Tuesday, First Industrial Realty Trust Inc. said it will hold a groundbreaking ceremony at its recently acquired site in Brooklyn Park on Wednesday, May 21. The Chicago-based firm is developing two buildings spanning 239,000 square feet on the site, 97,000 square feet of which will be a build-to-suit for Goodwill-Easter Seals Minnesota.
The long-term lease with Goodwill-Easter Seals will serve as a donation processing and storage center and will also house a Goodwill Outlet Store.
The estimated investment for the two-building project is $19 million.
The site, known as the Interstate North Business Center, will also feature a 142,290 square-foot facility featuring 32-foot clear height suitable for a single user or up to three tenants.
“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, in a statement.
Anderson Cos. 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.