CSM Plans Two Speculative Developments in Minnesota
- May 31, 2014
Minneapolis-based CSM Corp. recently announced plans to develop two speculative commercial real estate projects in Minnesota. The first project calls for the construction of a 202,000-square-foot office and warehouse facility in Brooklyn Park and the second for a 270,000-square-foot bulk warehouse facility in Rogers.
“We are eager to begin these speculative development projects, and see great potential in both the Brooklyn Park and Rogers communities,” said Scott Moe, vice president of leasing and development for CSM. “There is a limited supply of properties in the Northwest market, and an aggressive demand to attract businesses to the area. Going spec on these two sites allows us to take advantage of existing assets and add value to our portfolio, strengthening our marketplace position.”
The bulk warehouse facility in Rogers will be located in the Northwest quadrant of South Diamond Lake Road and Brockton Lane North on 17 acres of land CSM has owned since 2007. CSM has received municipal approvals, and upon completion of the structural drawings will break ground on the new facility in the early summer of this year. The project is listed with Mark Sims and the Cassidy Turley team.
“We are looking forward to working with the Rogers community and developing this project,” said Moe. “Rogers is an excellent distribution area and will make a desirable and user-friendly home for businesses.”
In Brooklyn Park, CSM originally owned 17 acres and recently purchased an additional 14 contiguous acres for the project. Located in the Northeast quadrant of 93rd Avenue North and Broadway, just south of Highway 610, the development will feature a 28-foot clear height office and warehouse facility. CSM is seeking final approvals with the city and is scheduled to break ground in mid-summer 2014. The project is listed with Dan Swartz and the CBRE team.
“The area boasts great transportation avenues — close to Highways 169, 610 and 694 — and a community eager to welcome new businesses and employment opportunities,” said Moe.
Both projects are scheduled to be finalized in the first quarter of 2015.