X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROGERS, MN-Marfield, Belgrade and Yaffe is about to start construction on a speculative 259,200-sf industrial building that will be the second of its three-phase Diamond Lake Industrial Center. The St. Louis Park, MN-based developer recently hired CB Richard Ellis to help lease the space, which is southwest of Interstate 94 and Highway 101.

Although the building will include 32-ft clear ceilings and be marketed as a warehouse and distribution space, it will also include office space, parking and smaller lease spaces down to 21,600 sf, says Jim De Pietro, an industrial broker with CBRE who is helping to lease the space along with colleague Dan Terry. The first phase of the project was completed by Marfield, Belgrade and Yaffe in the fall of 2001, and is one Wilfred Lane North and South Diamond Lake. The tenants include Graco, Department 56, Graybar Electric, Reinhardt Foods and Archway Co. Marfield, Belgrade and Yaffe is also known as the MBY Cos.

When built out, the business park will total 750,000 sf. DePietro attributes some of the success of this business park is due to its interstate access, and the availability of workers in the Rogers area and the surrounding communities.

The second phase building will be available in December.Diamond Lake is the latest industrial development of the MBY, which has been in industrial development for over 41 years in the Twin Cities.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.