MINNEAPOLIS—The Twin Cities’ industrial market has been quite active for several years, pushing down vacancy rates and leaving companies that want to expand or relocate very few options. And First Industrial Realty Trust, Inc., a Chicago-based owner, operator and developer of industrial real estate, has decided to take advantage of the situation. It will break ground today on a 142,290-square-foot speculative facility with 32′ clear height on a recently acquired site at the northwest corner of I-694 and Hwy. 81, known as the Interstate North Business Center, in northwest suburban Brooklyn Park.

“It’s so overdue; there is absolutely nothing for a company in the market that wants 32-foot clear,” Chris Willson, First Industrial’s senior regional director and market leader for the Twin Cities, tells GlobeSt.com. “If you want to find 100,000-square-feet with 32-foot clear, I don’t think there is one building on the market.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.