CRG Pursues 1 Million-Square-Foot Speculative Industrial Development in Suburban Minneapolis
The Cubes at French Lake will offer e-commerce and logistics users Minnesota’s first state-of-the-art super bulk inventory facility
MINNEAPOLIS – CRG, the real estate development and investment arm of Chicago-based Clayco, today announced plans to develop The Cubes at French Lake, bringing up to 1 million square feet of state-of-the-art distribution space to a 65-acre site in Dayton, Minnesota, 20 miles northwest of downtown Minneapolis. Upon completion in 2022, The Cubes at French Lake will be CRG’s first super bulk inventory distribution facility in Minnesota and the largest speculative industrial facility developed in the state.
Located at 11500 Lawndale Lane in Dayton, Minn., The Cubes at French Lake is adjacent to the new Dayton Parkway Interchange, offering direct access to Interstate 94 and Highway 610, and 35 miles from the Minneapolis-St. Paul International Airport. Lee & Associates will handle leasing for the project, which will also be marketed as a build-to-suit opportunity.
“Like many parts of the country, the Minneapolis-St. Paul region has a low industrial vacancy rate and growing need for Class A distribution facilities, especially of this size and quality,” said Jeff Lanaghan, CRG senior vice president and partner, Midwest region. “The Cubes at French Lake will fill the need for large, well-located space with access to major population centers and all of the design features that have become essential to today’s distribution operations.”
Catering to large e-commerce, third-party logistics and other premier industrial users, the proposed development would feature 40-foot clear heights, extra-wide staging bays with grade-level doors, a concrete truck court with 185-foot depth, Early Suppression Fast Response (ESFR) fire sprinkler systems and LED lighting.
“We’re thrilled to be marketing The Cubes at French Lake, and we consider this project to be the premier industrial development in the state,” said Chris Garcia, principal at Lee & Associates. “The surge in e-commerce has rapidly increased demand in the Twin Cities, and today’s users are looking for next-generation facilities that give them the flexibility and scalability needed to keep pace with the market.”
The Cubes represents CRG’s philosophy of developing best-in-class, next generation distribution facilities whose design anticipates the needs of users, both today and in the future, and aligns with the modern requirements of premier Fortune 500 and other users and institutional investors.
Since 2018, the firm has broken ground on approximately 18 million square feet of The Cubes projects across the country, more than 10 million square feet of which has already been delivered. All facilities are located in regional logistics hubs with robust transit infrastructure, high workforce availability and large population bases.
“We work with some of the largest companies across the country, so we know what types of facilities they’re looking for and where they want to be,” Lanaghan said. “Minneapolis is the ideal market for The Cubes brand, and we see this as the first of many projects here.”
About CRG:CRG is a privately held real estate development firm that has developed more than 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, St. Louis, Southern California, Phoenix and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at www.realcrg.com.
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $3.8 billion in revenue for 2020, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential related building projects. For more information visit www.claycorp.com.
About Lee & Associates
Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter, and Link, our company blog.