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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.

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