A joint venture of PCCP, LLC and Endeavor Development announced the next phase of development at Arbor Lakes Business Park in Maple Grove, MN, within the Twin Cities. This phase includes a two-building, Class A industrial project totaling 406,000 square feet.
PCCP and Endeavor are also JV partners on an initial phase at Arbor Lakes that includes a two-building, 443,097-square-feet development and located directly north of the project site. Those two buildings are projected to be completed mid-2023 and have experienced strong leasing activity.
“Arbor Lakes Business Park benefits from convenient accessibility throughout the metro area and access to a significant labor pool in an industrial submarket that is approximately 3.5% vacant,” said Alexandra Schultz, SVP with PCCP. “We believe this quality project will experience a favorable amount of tenant interest and activity.”
RJ Ryan will serve as general contractor. First National Bank of Omaha is providing the construction loan.
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