North Star Sheets Expands at Southeast Industrial Park

Colliers | Minneapolis-St. Paul,Hillcrest Development, LLLPand The Opus Group are pleased to announce the expansion of North Star Sheets at Southeast Industrial Parkin Cottage Grove, MN. The company, a producer of corrugated paper products for manufacturing needs, currently occupies a 168,000-square-foot building on 16 acres and will construct a 35,600-square-foot addition and increase its total footprint by an additional 4.5 acres of land. The City of Cottage Grove approved the plans in June 2021.

“We are excited to continue our company's success at Southeast Industrial Park," said Brian Pascavis, general manager of North Star Sheets. “We currently employ 85 people, and this expansion will allow us to better serve our clients and grow our business."

“North Star Sheets has been an incredible addition to our community, and we are looking forward to seeing the company continue to flourish in Cottage Grove," said Myron Bailey, mayor of Cottage Grove.

Along with the planned building expansion, North Star Sheets will use the newly acquired acreage to increase capacity and to add another rail spur to enhance its rail service infrastructure.

Located just south of US Highway 61, the Southeast Industrial Park offers easy access to major freeway systems and is rail-served by Canadian Pacific. During the first phase of its development, North Star Sheets' build-to-suit 168,000-square-foot facility was city-approved in less than 60 days and constructed in just seven months.

Southeast Industrial Park is certified as shovel-ready by the Minnesota Department of Employment and Economic Development (DEED), with up to 18.5 acres available for developments ranging from 15,000–325,000 square feet. The owner, Hillcrest Development LLLP, has retained Eric Rossbach and Andy Heieie of Colliers to market the site; all inquiries can be directed to Rossbach at eric.rossbach@colliers.comor Heieie at andy.heieie@colliers.com.

“With city support, rail access and shovel-ready certification, Southeast Industrial Park presents a phenomenal opportunity for distribution, manufacturing or storage users with unique needs," said Heieie. “The Southeast metro has been a largely untapped resource as well, with many prospective tenants only recently beginning to realize what it can offer."

“The City of Cottage Grove has been a wonderful partner throughout the initial and now second phases of this development," said Scott Tankenoff, managing partner of Hillcrest Development. “Open communication and prompt decision-making is key to any development, and the Southeast Industrial Park is the perfect case study of seamless collaboration between city, brokers, developers and owners."

Opus Development Company, L.L.C. is the developer, Opus Design Build, L.L.C. is the design-builder and Opus AE Group, L.L.C. is the architect and structural engineer of record. Hillcrest Development, LLLP is the owner of the 38-acre site.

About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; and architecture and engineering. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail and institutional projects, Opus has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow The Opus Group on LinkedIn and Instagram.

About Hillcrest Development, LLLP
Hillcrest Development, LLLP was founded in 1948 and is a third-generation company specializing in commercial renovation to suit our clients' facility needs for office, hi-tech, biotechnology-medical research, light assembly, warehousing, manufacturing, and other commercial purposes. For more information, visit www.hillcrestdevelopment.com.

• More about North Star Sheets at Southeast Industrial Park