Although I have done many restaurant, retail, and office deals, industrial properties have been my bread and butter for decades, starting back in my days with John Allen.
Minneapolis –– with its beginnings as a flour-milling industrial city and once known as “the flour-milling capital of the world” –– is home to multiple Fortune 500 companies. But currently, redevelopment is killing opportunities for small to mid-sized industrial businesses to remain in the city. And since the volume of occupied industrial space has doubled in recent years, things have really tightened causing rents to rise.
For our local economy to be sound, the metro needs industrial. The I-94 corridor is proven to be a convenient spot for those businesses being pushed out of Minneapolis. Its location provides easy access to both the metro and rural areas, as well as space to spread out. It’s meeting the metro industrial needs:
1. Multi-tenant industrial spaces are a great option for those looking for small to mid-sized square footage. With industrial park sites like Ridgewood (7402 Ridgewood Road, St. Cloud), smaller companies can share amenities, economically access the right square footage needed, and get in on a prime location.
2. Demand for warehouse space is common, and we’ve done many deals for clients over the years. Ridgewood also offers options for those looking for low cost, heated or unheated, warehouse combinations. Also, multiple dock and cross dock solutions are available.
3. Since trucking is an essential part of the industrial machine, semi-truck and trailer access, parking/storage, and construction equipment storage are in demand. Ridgewood also shines in this area with trucking leasing spots and inside and outside storage. On Hwy 10 (3107 Hwy 10, St. Cloud), a state of the art truck and trailer investment property sits on over eight acres of land with three shop and/or warehouse buildings and 80 truck plug ins. A 4,800 SF shop/warehouse is available for lease and the entire property is for sale.
4. As more and more redevelopment buildings go up in the cities, types of storage can also be hard to find, especially paired with brick and mortar. Sites outside of the metro, like Ridgewood and the St. Cloud truck and trailer property, provide the square footage and options for heated and cold storage as well as indoor and outdoor storage. My buddy who owns Dale’s Auto in St. Michael (13100 43rd Street NE) also has 68,000 SF land for lease, perfect for truck, trailer, and outdoor storage.
5. Little standalone buildings like NE Park Industrial (1101 Pierce Street NE, Minneapolis), and as clean as this one, are a rare jewel. They used to be home to those small mom and pop shops that helped build NE Minneapolis as an industrial hub. It’s not economical to build something like it today –– that’s what makes it a special find.
As with all commercial real estate, industrial properties have to be tailored to meet specific business needs and goals. At CEG, we’re here to help you find the right space for your business or investment portfolio. Email our team at email@example.com or call 612-788-1552 if you have any questions. You can find me at 612-428-3333 or firstname.lastname@example.org.
Jeff Salzbrun is the owner/broker of Commercial Equities Group (CEG). As a veteran-owned real estate brokerage, CEG has been involved in thousands of sale and lease transactions, ranging from single offices to 250,000+ square foot buildings. At CEG, we get your deal done. We know space, and we know the CRE business.
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