SD Project Lands $33M Construction Financing
- Feb 15, 2018
Dougherty Funding has closed a $32.6 million construction loan for a 205,000-square-foot industrial building under construction on the north side of Sioux Falls, S.D. The build-to-suit project for Win Chill, which will sit on 54 acres of the 820-acre Foundation Park industrial development area, broke ground in June 2017. Tippmann Innovation, a specialized cold storage developer, anticipates the property will be complete in spring this year.
Located northwest of the intersection of interstates 29 and 90, the rail-served frozen and cold storage facility is anticipated to serve food wholesalers and manufacturers throughout South Dakota, Nebraska, Minnesota and Iowa. The building will feature a 50-foot clear height, a blast freezing system, 16 loading doors and three rail doors. The development site offers room for future expansion to a total size of more than 800,000 square feet.
Tippman is working alongside Gil Haugan Construction, a local Sioux Falls-based contractor, to construct the facility. Upon completion, the building will employ an estimated 30 to 35 people.
Image courtesy of Tippman Innovation