MINNEAPOLIS, Minn. - The Opus Group announced today that Opus Development Company, L.L.C. has acquired 50 acres of land in Shakopee, Minn., and announced plans to develop a 200,000-square-foot speculative industrial warehouse and distribution facility. Simultaneously with this acquisition, Opus sold approximately 60 acres of land and an existing building to Emerson Electric Company.
Construction on Opus’ planned new industrial facility will begin this fall and completion scheduled for spring 2014.
“The southwest industrial market is exceptionally strong with limited large blocks of space and very compelling metrics,” said Dave Menke, executive vice president of Opus Development Company, L.L.C. “We anticipate strong demand not only for this first phase project, but for the balance of development planned for the site.”
To be known as the Valley Park Business Center, the sale and new spec development will help transform the area into an industrial and office park, bringing additional jobs to Shakopee.
“We’re thrilled for Opus to bring a new industrial development to the area,” said Mayor Brad Tabke of the city of Shakopee. “This new warehouse and distribution center will bring additional businesses to the community and have a positive impact on our area.”
Opus Development Company, L.L.C. will develop the project, Opus Design Build, L.L.C. will serve as the design-builder and Opus AE Group, L.L.C. as the architect and engineer.
About The Opus Group
The Opus Group® is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. 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 office, industrial, retail, residential living, institutional and government projects, The Opus Group 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.
Construction on Opus’ planned new industrial facility will begin this fall and completion scheduled for spring 2014.
“The southwest industrial market is exceptionally strong with limited large blocks of space and very compelling metrics,” said Dave Menke, executive vice president of Opus Development Company, L.L.C. “We anticipate strong demand not only for this first phase project, but for the balance of development planned for the site.”
To be known as the Valley Park Business Center, the sale and new spec development will help transform the area into an industrial and office park, bringing additional jobs to Shakopee.
“We’re thrilled for Opus to bring a new industrial development to the area,” said Mayor Brad Tabke of the city of Shakopee. “This new warehouse and distribution center will bring additional businesses to the community and have a positive impact on our area.”
Opus Development Company, L.L.C. will develop the project, Opus Design Build, L.L.C. will serve as the design-builder and Opus AE Group, L.L.C. as the architect and engineer.
About The Opus Group
The Opus Group® is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. 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 office, industrial, retail, residential living, institutional and government projects, The Opus Group 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.