118,500 SQ. FT. SPECULATIVE INDUSTRIAL PROPERTY BREAKS GROUND IN BLAINE MINNESOTA
16 Jun 2021
Minneapolis, MN – June 16, 2021 – CBRE announced the groundbreaking of Blaine35, a three-building 317,400 sq. ft. Class A industrial development located at the intersection of I-35 W and 85th Avenue NE in Blaine, Minnesota. The groundbreaking marks the start of construction on Building A, a 118,500 sq. ft. facility with 32-foot clear heights. The project will consist of three buildings that are owned and developed by the Winnipeg Canada-based Artis REIT.
CBRE’s Dan Swartz and Austin Lovin are marketing the property on behalf of their client, Artis REIT.
The project was made possible through a collaborative planning process with numerous entities within the City of Blaine and the Rice Creek Watershed District. A commitment to environmental sustainability practices means the development will strategically maximize the use of native prairie seed mixes. This will improve infiltration and evapotranspiration on the campus, facilitate groundwater recharge and reduced heat island effects, and foster an environment great for pollinators such as honeybees and butterflies. Stormwater discharge from the property will be also reduced by 20% post construction through cooperation with the Rice Creek Watershed District.
“We continue to see elevated levels of industrial demand in the market,” said Swartz. “Speculative developments like Blaine35 allow Minneapolis to attract more industrial users that need to expand quickly to respond to unprecedented demand.”
According to a recent CBRE Report, 2.5 million sq. ft. of industrial product is under construction and expected to complete in 2021.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.