HM Cragg takes 92,224-square-foot lease at Opus industrial property in Eden Prairie

Endeavor Development and HM Cragg announced a 92,224-square-foot lease for HM Cragg at Endeavor Development’s Nexus at Opus Park redevelopment, a two-building, 174,230-square-foot industrial development in Eden Prairie, Minnesota.

The critical power solutions company is relocating from 7490 Bush Lake Road in Edina and will open its new facility in early 2026.

CBRE’s James DePietro and Matt Oelschlager represented the landlord and developer, Endeavor Development, in the lease negotiations. Jay O’Brien of Great Places Company represented HM Cragg.

Nexus at Opus Park is a redevelopment of the former American Family Insurance office campus. Demolition on the 14.4-acre site is scheduled to begin in March 2025, with both buildings expected to be delivered in Q4 2025.

The site is located in the mixed-use Opus Park, near the intersection of highways 169, 62 and Shady Oak Road. Additionally, it’s within walking distance to the newly built Southwest Light Rail Opus Transit Station, Shady Oak Retail Center and 6 miles of recently upgraded lit walking trails.

Read the full article online at RE Journals

Caribou Coffee Signs 100,000-s.f. lease and Cameron Ashley Signs 70,000-s.f. lease at buildings developed by Endeavor

Caribou Coffee Co. has signed on to lease over 100,000 square feet at Maple Grove’s Arbor Lakes Business Park.

Edina-based Endeavor Development, which is leading the development of Arbor Lakes, announced the new lease with the Brooklyn Center-based coffeehouse chain this week. Caribou is expected to move into the new space at the start of 2024, according to Josh Budish, principal of Endeavor.

The lease will take up nearly half of the fourth building developed as part of Arbor Lakes. That Class A industrial building, completed this past summer, spans 221,549 square feet.

That wasn't the only sizable deal for Endeavor this month. Greer, South Carolina-based Cameron Ashley Building Products signed a lease for 76,775 square feet at Endeavor's I-94 Logistics Center in Rogers, according to Endeavor. That building spans 263,775 square feet.

“We continue to experience demand for our assets” across its portfolio in the Twin Cities, Budish said.

Read the full article online at Minneapolis/St. Paul Business Journal.

Maple Grove's Arbor Lakes Business Park lands tenant for 150,000-s.f. lease

A local HVAC company has signed a 150,000-square-foot lease in Maple Grove's Arbor Lakes Business Park.

MAS HVAC, a Circle Pines, Minnesota-based manufacturer that focuses on providing custom energy recovery, air movement and heat exchange solutions for large commercial air-conditioning equipment, will move into its newly constructed location in January.

MAS HVAC's new location will be located in the sixth building to be constructed or planned within the new Arbor Lakes Business Park, which is located in the southeastern quadrant of Maple Grove. It's in close proximity to both Highway 169 and Interstate 94.

"Arbor Lakes [is] a great location for labor and amenities and just the quality of the building, " Masica said, adding that the building's look is "unique" for the industrial sector.

MAS HVAC moved its company to the Twin Cities four years ago, founder Clarke Story said in the release. Founded in 2010, the firm was initially based in the Jacksonville area of Florida. In 2017, it won a Jacksonville Business Journal Fastest Growing Company award.

Read the full article online at Minneapolis/St. Paul Business Journal.