Along the lines that the industrial commercial real estate market is rebounding. . .
Cushman & Wakefield NorthMarq said it has been hired by IRET Properties, a North Dakota limited partnership, to market the redevelopment of a new industrial property in Roseville.
The 220,556-square-foot industrial building is located at at 3075 Long Lake Road and will be ready to lease this November. This involves the redevelopment of the former Smurfit-Stone Container Corp., which will be demolished next month. Kraus Anderson has been selected as the general contractor.
Tom Sullivan of CWN says the property offers "businesses the chance to gain substantial square footage in what will be a state of the art, high clear distribution center with a highly centralized location and excellent interstate access."
Once the distribution center is redeveloped, about 192,000 square feet of space will be available for lease. The new construction will be built around existing tenant, Hood Packaging, which will continue operations during the redevelopment. Hood Packaging will occupy 28,477 square feet of the new property.