CSM 100,000-SF Speculative Project Under Review

EDEN PRAIRIE, MN-City officials are reviewing plans from CSMCorp. to build a speculative 100,000-sf,two-story office building that would be marketed tohigh tech firms located here.

The plans for the project, which would cost under $10-million, have been submitted to the Eden Prairie CityCouncil, who will review the design, says DaveCarland, CSM’s vice president of development. The8.5-acre site, which is on the city’s tax roles at$1.4 million, is a challenging one because the land isexpensive and work needs to be done on the condition of the soil. Thesite is near Interstate 494 and Valley View Road.

CSM’s proposed building would suit a bio-tech ordot-com company that wants a polished look andadditional parking. Also, such a tenant might bewilling to pay a little more for office space than awarehouse tenant would for warehouse space.

The bottomfloor of the building would be high ceiling, while thesecond floor would be standard height, Carland says.The project could be leased to one tenant, or brokenup into several spaces, he notes.

“A lot of tech companies want buildings with 80% to 90% office space, but still room fora loading dock and high ceilings,” Carland says.CSM has done well in developing buildings for hightech companies near the proposed site. For instance, it hasleased up 135,600-sf of space at nearby EdenvaleBusiness Center and an 80,000-sf building next to thenew site.

The proposal also needs to be reviewed by theneighborhood. Neighbors are more likely to be opposedto a retail site, which would generate a lot of localtraffic, than one for office-industrial use.