CBRE Arranges Sale of 168,000-SF Jacquard Distribution Center in Lakeville, Minnesota

CBRE has arranged the sale of Jacquard Distribution Center, a 168,000-square-foot industrial property in Lakeville. Advanced Exhaust Solutions purchased the property from Lakeville Jacquard 32 LLC for $22 million.

CBRE’s Jeff Przytarski, Bryan Van Hoof, Sam Manke, Kyle Ferderer and Chance Lindsey represented the seller in the transaction.

“Lakeville's industrial market continues to see high demand, with a number of large-scale developments and expansions in the pipeline,” said Przytarski. “This increasing demand for modern, well-connected industrial spaces underscores Lakeville's growing importance as a business hub.”

Jacquard Distribution Center is located at 10180 217th St. W., just east of Interstate 35 and minutes away from Airlake Airport. Built in 2023, the property features 36-foot clear heights, 32 dock doors, an ESFR sprinkler system, 101 parking spaces and 48 trailer parking spaces on a 14.31-acre site.

According to CBRE Research, the Minneapolis industrial market saw 1.2 million square feet of positive net absorption in Q4, bringing the 2024 annual absorption figure to 4.5 million square feet. Additionally, the direct vacancy rate was 3.4%, having decreased by 0.3% after three consecutive quarters of stabilization.