Opus Plans Spec Industrial Project in Brooklyn Park
- Mar 09, 2015
The Opus Group has revealed plans for a 145,800-square-foot spec industrial project in Brooklyn Park, Minn.
The Minnetonka-based company intends to develop a speculative industrial office and warehouse facility at the intersection of 85th Avenue and Wyoming Avenue North. According to a news release, construction is set to begin in May and scheduled for completion in the fall of 2015.
Dubbed 169 Business Center, the facility will be located just east of the Mills Fleet Farm store in the Hennepin County suburb, on an 11.8-acre parcel, the Star Tribune reports. The building will be owned by a joint venture between Opus Development Co. and Minneapolis-based Founders Properties Inc. Opus Development will act as developer, Opus Design Build will handle the design, while Opus AE Group is the architect and engineer of record. The property will be marketed for lease by Bloomington-based Cushman & Wakefield/NorthMarq.
“This is an exciting opportunity to respond to a specific demand in the Twin Cities’ thriving northwest metro submarket,” said Tony Phelps, senior director of real estate development at Opus Development. “The location and access off Highway 169 make the site very desirable, given the limited supply of quality 24-foot clear height office and warehouse product in this area.”
Roughly 2 million square feet of industrial space are currently under construction, with speculative projects being developed by firms such as United Properties, Liberty Property Trust and Hyde Development, the Minneapolis/St. Paul Business Journal reports.
Rendering courtesy of The Opus Group.
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