Scannell Properties is proposing up to 205,380 square feet of build-to-suit warehouse space at the Rich Valley Business Center in Rosemount, while a 55,373-square-foot industrial property in Alexandria is listed for $2.6 million. The opportunities reflect continued demand for industrial space across Minnesota, from the Twin Cities' expanding southeast metro logistics corridor to regional distribution and manufacturing markets along Interstate 94.
The Blueprint
- Scannell Properties is proposing a new industrial development at 3855 145th Street E. in Rosemount’s Rich Valley Business Center, near Highway 52 and 145th Street.
- The proposed build-to-suit project could include one warehouse of approximately 191,700 square feet or two buildings totaling 205,380 square feet, with 32-foot clear heights and truck and trailer parking.
- A 55,373-square-foot industrial property in Alexandria is listed for $2.6 million. The City of Alexandria is the seller, and the property sits on seven acres near Highway 29, Interstate 94 and the regional airport.
- The Alexandria warehouse could accommodate a single occupant or multiple tenants, with several overhead doors and three-phase electrical service that may support a range of industrial uses.
Two relatively large and uncrowded industrial properties make the cut for this week’s On the Market.
We begin with a build-to-suit opportunity in Rosemount, one of the Twin Cities’ hottest submarkets for industrial development, before taking a quick road trip up Interstate 94 to look at an existing warehouse-type property most recently occupied by a single tenant.
Rich Valley Business Center
No need for a drive-by on this one: It’s still just a proposal, according to the listing from a CBRE industrial team led by brokers Bryan Van Hoof and Jeff Przytarski. But it’s backed by a blue-chip developer in Scannell Properties, the Indiana-based company behind the multi-phase Rich Valley business park taking shape at the intersection of Highway 52 and 145th Street in eastern Rosemount.
Rich Valley already has an operational anchor tenant, a massive FedEx distribution center just north of this property. Scannell has proposed (and Rosemount has approved) a 250,000 square-foot warehouse on a 15.1-acre site immediately to the east, too.
As proposed, this one would be a bit smaller. One site plan envisions a single building topping out just shy of 192,000 square feet and measuring 180 feet by 1,065 feet; another shows two smaller buildings of 102,690 square feet each and dimensions of 210 feet by 489 feet. Either way, the buildings would have 32-foot clear heights (though a build-to-suit user would be free to modify that) and 50-foot by 50-foot column spacing, with loading via a combination of dock and drive-in doors and “ample” truck and trailer parking outside.
Scannell’s building(s) would have plenty of high-wattage industrial neighbors in this booming corner of Rosemount, CBRE says: CHS, Halvor Lines, Goodin Company, Lundin Construction and a data center occupied by Meta, Instagram’s parent company.
Address: 3855 145th Street E., Rosemount
Type: Warehouse/distribution
Square Footage: 191,700 or 205,380 square feet
Asking Price: Negotiable
Seller: Scannell Properties (Indianapolis, Indiana)
Listing Broker: Bryan Van Hoof, Jeff Przytarski and Sam Manke, CBRE
Alexandria Light Industrial
This Alexandria warehouse is very much not a build-to-suit situation, but that shouldn’t be a problem for the right buyer.
Conveniently located off Highway 29 and Interstate 94 near the regional airport, it’s a roughly 55,000 square-foot building on what listing brokers Jake Cleveland and Austin Ruehle call a “spacious seven-acre lot.”
“Positioned in a well-developed area with strong traffic flow, the site is close to major retailers, numerous restaurants, and a regional medical center, making it an ideal opportunity for owner-users, investors, or tenants seeking a well-located industrial asset,” Cleveland and Ruehle say. (Alexandria is roughly halfway between Minneapolis and Fargo; I-94 passes through the city’s southern fringe.)
The warehouse was most recently occupied by a single tenant but could be demised to support multiple tenants, Cleveland and Ruehle say.
Freight partners access the structure via one dock door or one overhead door on the west side; the inside has several additional overhead doors. Sidewall heights range from 18 to 22 feet, generous enough for a range of distribution options. There’s also fairly heavy power here, with multiple lines carrying three-phase 110-, 240- and 480-volt service, according to the listing brochure — meaning a future tenant might not be limited to standard-fare warehousing and distribution activities.
Address: 1104 34th Avenue W., Alexandria
Type: Warehouse/distribution
Square Footage: 55,373 square feet
Asking Price: $2.6 million
Seller: City of Alexandria
Listing Broker: Jake Cleveland and Austin Ruehle, Inventure Real Estate