{"id":1004699984,"date":"2024-01-30T02:37:31","date_gmt":"2024-01-30T10:37:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004699984"},"modified":"2024-01-30T06:34:17","modified_gmt":"2024-01-30T14:34:17","slug":"crg-completes-1-msf-minneapolis-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crg-completes-1-msf-minneapolis-facility\/","title":{"rendered":"CRG Completes Minnesota&#8217;s Largest Spec Industrial Building"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d7cdc4a49c&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004699994\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crg-completes-1-msf-minneapolis-facility\/default-78\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/the-cubes-at-french-lake-crg-aerial-img-e1706545101634.jpg\" data-orig-size=\"4861,3648\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC3411&quot;,&quot;caption&quot;:&quot;default&quot;,&quot;created_timestamp&quot;:&quot;1704200981&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;8.38&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;0.001&quot;,&quot;title&quot;:&quot;default&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Cubes at French Lake Aerial\" data-image-description=\"&lt;p&gt;The Cubes at French Lake Aerial&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Cubes at French Lake Aerial. Image courtesy of CRG&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/the-cubes-at-french-lake-crg-aerial-img-e1706545101634.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"200\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/the-cubes-at-french-lake-crg-aerial-img-e1706545101634.jpg?w=300\" alt=\"The Cubes at French Lake\" class=\"wp-image-1004699994\" style=\"width:400px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Cubes at French Lake is Minnesota&#8217;s largest speculative industrial development. <em>Image courtesy of CRG<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>CRG <\/strong>has completed The Cubes at French Lake, a 1 million-square-foot Class A industrial property in Dayton, Minn. The developer hired <strong>CBRE <\/strong>as exclusive leasing agent for the facility.<\/p>\n\n\n\n<p>According to CRG, this is Minnesota&#8217;s largest speculative industrial project to date and its first super-bulk distribution facility. The development team included CRG\u2019s parent company, <strong>Clayco<\/strong>, as general contractor and <strong>Lamar Johnson Collaborative<\/strong> as designer.<\/p>\n\n\n\n<p>CRG started work on the property in 2022 and obtained $61.1 million in construction financing, provided by First National Bank of Omaha, CommercialEdge data shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">What&#8217;s Next for Industrial Real Estate?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The Cubes at French Lake is at 11500 Dayton Parkway N. The cross-dock facility features 40-foot clear heights, ESFR sprinkler systems, 100 grade-level dock doors with the possibility to add 69 others, four drive-in doors, 60-foot speed bays, a 185-foot depth truck court, 231 trailer parking spots and 652 vehicle parking spaces. The property also features a 3,950-square-foot office space, weather seals, surface-mounted fire extinguishers and 4,000 amps of power.<\/p>\n\n\n\n<p>Located on 65 acres close to Interstate 24 via the Dayton Parkway interchange, the building is 26 miles from Minneapolis, 33 miles from Saint Paul and within 39 miles of Minneapolis-Saint Paul International Airport. Other industrial users in the area include King Solutions Inc., T.J. Maxx, Graco Inc. and FedEx.<\/p>\n\n\n\n<p>CBRE\u2019s Senior Vice Presidents Dan Swartz and James DePietro, together with Senior Associate Austin Lovin, are in charge of leasing the industrial asset.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-twin-cities-development-lagging-other-midwest-metros\">Twin Cities development lagging other Midwest metros <\/h2>\n\n\n\n<p>Twin Cities had 1.5 million square feet of space under construction, a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/transformative-shifts-a-recap-of-2023-in-the-dynamic-industrial-sector\/\">CommercialEdge report <\/a>shows. Compared to other midwestern markets, the metro had the smallest pipeline, while Chicago led with 13.2 million square feet, followed by Kansas City (10.8 million square feet) and Detroit (7.9 million square feet).<\/p>\n\n\n\n<p>Among the notable industrial projects completed last year,<a href=\"https:\/\/www.commercialsearch.com\/news\/opus-group-wraps-up-work-on-minneapolis-trio\/\"> The Opus Group added 380,000 square feet <\/a>to its Minneapolis footprint. The developer wrapped up Nordeast Business Center in Minneapolis, totaling 130,439 square feet, the Sanctuary Business Center in Blaine, Minn.\u2014encompassing 137,178 square feet\u2014and the 111,820-square-foot Johnny Cake Business Center in Apple Valley, Minn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE is the exclusive leasing agent.<\/p>\n","protected":false},"author":2991,"featured_media":1004699994,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21748,13,36076,21742],"tags":[32789,32869,51981,51526],"class_list":["post-1004699984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-industrial","category-midwest","category-minneapolis-st-paul","category-latest","tag-cbre","tag-clayco","tag-crg","tag-lamar-johnson-collaborative"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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