JLL selected for leasing of new Arbor Lakes Corporate Center Industrial Redevelopment
Construction has begun for 204,000 square foot speculative industrial building
Minneapolis, January 2, 2019 – The Opus Group (Opus) and Inland Development Partners have selected JLL to provide leasing services for Arbor Lakes Corporate Center, a 204,000 square foot speculative industrial building in Maple Grove, Minn. Construction is expected to be completed in late 2019.
Located on a 13-acre site at the northeast corner of Zachary Lane and 85th Avenue in Maple Grove, Arbor Lakes Corporate Center will feature modern industrial amenities to meet the needs of a variety of tenants, including 28-foot clear height ceilings, architectural precast exterior with enhanced glass lines, 32 docks, two drive-in doors and approximately 300 parking stalls. This location also offers unprecedented access to Interstates 494, 694 and Highway 610.
“Arbor Lakes Corporate Center’s Maple Grove location offers a unique opportunity for tenants looking for office, lab, and tech space,” said Chris Hickok, JLL Executive Vice President. “We’ve been watching trends in the Northwest sub-market for a while, and recognize the area is experiencing increasing new construction and strong leasing absorption over the past three years for both existing inventory and speculative new construction projects. However, even with this substantial new construction, there continues to be a market-wide shortage for modern and innovative industrial space.”
“Maple Grove is quickly becoming the premier hub for businesses and consumers alike, and this development is perfectly placed in a location that will attract a diverse group of tenants,” said Dan Larew, JLL Vice President. “Our tightening labor market is forcing companies to compete to attract and retain high quality talent. Industrial employers, like other major office employers, are looking for building features like more natural light and better access to amenities closer to their facilities. Arbor Lakes Corporate Center will meet these needs.”
The JLL team responsible for the project leasing includes JLL Executive Vice President Chris Hickok and Vice President Dan Larew.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail, healthcare and institutional projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers speed, cost savings and best overall value for clients. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter.
Inland Development Partners is the culmination of the talents and track records of real estate professionals Bob Cunningham, Kent Carlson, Tom Shaver and Steve Schwanke. With a sheer enthusiasm for complex challenges, IDP transforms landscapes and communities through land development, site redevelopment and asset repositioning throughout the Twin Cities and the Upper Midwest.