Opus, Carlson Collaborate on Business Park in Minneapolis

The Opus Group has inked an agreement with Carlson Real Estate Co. to build out 35 acres.
Phil Cattanach

Phil Cattanach, Opus Development Co.

The Opus Group has inked an agreement with Carlson Real Estate Co. to build out 35 acres, or roughly two-thirds, of Carlson’s The Oaks Business Park at the northeast corner of I-94 and I-694 in Oakdale, Minn., Opus announced Wednesday.

Opus will be the park’s developer and design-builder and will collaborate with Carlson on acquisition and development of the 35 undeveloped acres in the 55-acre park, Phil Cattanach, senior manager/real estate development, Opus Development Co., L.L.C., told Commercial Property Executive.

The Oaks currently is home to about 100,000 square feet of flex tech space, 60,000 square feet of single-story office space and four office suite buildings totaling 36,000 square feet, Cattanach said. The remaining 35 acres is development-ready with infrastructure in place.

The planned approximately 450,000-square-foot buildout of office and flex space reportedly could accommodate 30,000-square-foot users up to 150,000-square-foot multi-story office users. The park offers a range of development sites, from those with freeway visibility to more secluded sites overlooking natural wetlands and water features.

The project’s cost is not being disclosed, nor has a timeline for development been announced yet.

Opus Development Co., L.L.C. has retained Cushman & Wakefield/Northmarq to market the site.

“The proximity to the Woodbury retail amenities, coupled with unparalleled visibility from the freeway, distinguishes this site as one of the last remaining freeway-frontage developments of this density in the metropolitan area,” Pete Carlson, senior vice president of Opus Development Co., L.L.C., said in a release

More than 1.2 million square feet of retail sits within a two-mile radius of the site: Oakdale Village Shopping Center (150,000 square feet), Tamarack Village (790,000 square feet) and Woodbury Lakes Lifestyle Center (330,000 square feet).