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Industrial construction slows down in Shakopee after 2 million SF of inventory has been added since 2015

  • ​After some large lease deals this past summer, the Shakopee industrial micromarket has seen vacancy rate rates plunge to 2.2 percent citywide, largely due to increasing demand for Class A bulk warehouse facilities.
  • Out of nearly 2 million square feet of new construction delivered in Shakopee since 2015, over 1.5 million square feet were build-to-suit (BTS) projects. These BTS tenants include Amazon, Milestone AV Technologies, Amerisource Bergen, Bayer CropScience, and Rahr Malting.
  • What’s left to develop? United Properties has a 25 acre site that is a planned speculative development known as Canterbury Business Center. Ryan companies has a planned 175,000 square foot BTS facility for Trystar. Scannell has another 13-16 acres in the development pipeline. ​

Source: JLL Research​

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