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News release

Minneapolis, MN

Scannell Properties Announces Spec Building and Further Plans for Kinghorn Logistics Hub

Names JLL Exclusive Marketing Agent for 220,000 SF Spec Building and BTS Sites


Minneapolis, MN (October 8, 2014)—Scannell Properties has outlined its short and long term plans for Kinghorn Logistics Hub, including a 220,000-square-foot speculative warehouse distribution facility that will break ground in October and additional development opportunities for buildings that could total as much as 1.5 million square feet. Scannell also named Chris Hickok, Executive Vice President, and Dan Terry, Vice President, with JLL, as exclusive marketing representatives for the spec project and the build-to-suit sites.

Kinghorn Logistics Center is a 67-acre business park in Rogers, northwest of Minneapolis. Scannell Properties acquired the park earlier this year.

According to Scannell and JLL, there are many factors that set Kinghorn apart from various other business parks and speculative construction projects now taking place in the Minneapolis/St. Paul marketplace. Chief among advantages is the construction of a 350,000-square-foot distribution center that is being developed for FedEx in the southern portion of the park. Based on that development, and the additional projects anticipated, there has been construction of significant road improvements to enhance access to the park.

“The adjacency of the FedEx distribution center clearly differentiates Kinghorn from virtually any other park in the area,” said Tim Elam, Scannell Properties. “FedEx is a proven entity, an organization that has spurred additional development and business activity in virtually every market where a new distribution facility has been constructed.”

The new FedEx facility is projected to open in September, 2015.
According to Elam, Scannell has been looking to further expand its footprint in the Minneapolis marketplace, and its ownership of the Kinghorn Logistics Hub provides that opportunity.

“We are very excited to be part of the ongoing evolution of the Kinghorn site,” said Hickok. “Other factors that will contribute to the success of Scannell’s newest business park include an approved AUAR and master plan, speed to market, the ability of the well-established development firm to introduce and deliver speculative and build-to-suit developments for end users faster and more efficiently than others.”

According to the JLL team, land sites are being marketed up to 45 acres. Land parcels of this size can accommodate buildings ranging from 100,000 square feet to 1,000,000 square feet. When the park is completed Hickok expects there could be approximately 1.5 million square feet of developed space.

“Whether it is the spec project soon to break ground or other opportunities, Kinghorn Logistics Hub is a premier option for industrial users, especially those who want to be in close proximity to I-94 and FedEx’s distribution center,” Terry said.

Scannell Properties is a leading national build-to-suit developer specializing in office and industrial product.  The firm annual develops over 5.0 mm SF with revenues exceeding $300 mm.  Scannell opened a local office in Minneapolis in 2012. 

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billionand gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.