Rendering Courtesy of Mohagen Hansen Architecture/Interiors
FOR IMMEDIATE RELEASE
MSP Develops Black Diamond Industrial Anchor
SAINT PAUL (Monday, October 10, 2022) – The Black Diamond Distribution Center is a new project in development by MSP Commercial, in partnership with Onward Investors, near Eastview Road on Settlers Ridge Parkway in Woodbury.
Although MSP Commercial has experience developing land in Woodbury, this 180,000 square foot building will be their first industrial project in the area and their largest development project to date. MSP‘s portfolio includes over 300,000 square feet of medical office in Woodbury, with the majority of it concentrated around the I-94 and Tamarack Road Interchange. That said, this industrial project is a change in pace for the development firm.
“It’s an exciting opportunity for us. With our long-standing relationships with the City of Woodbury, our market knowledge and our development experience in the area, we could easily visualize the potential in for an industrial user to successfully thrive at that location.” Steve Miller, Vice President of Acquisitions and Asset Management at MSP Commercial said.
The Black Diamond Distribution Center is being constructed as part of Woodbury’s Black Diamond Development, a new 85-acre industrial development, just north of Eagle Brook Church and west of the new Amazon Sort Center. Overall, the bulk of the Black Diamond Development will be occupied by storage facilities, with this project anchoring the site.
“Industrial property is a relatively new product type in Woodbury, as it had previously been focused on medical, office and residential use. Changes to the economy, workforce practices and vast improvements in industrial and manufacturing processes have opened the doors for a handful of industrial sites to be allowed in the area over the past couple of years.” Miller added.
Groundwork on the project site is nearly completed, but dirt continues to move on the neighboring lots as part of the larger development. RJ Ryan and Mohagen Hansen Architecture | Interiors have both signed onto the project team. Construction will continue throughout the winter with a proposed delivery date in spring of 2023.
With direct access to I-94, this industrial building is ideal for any manufacturing or distribution users. This building offers docks and drive in loading, ample surface parking, and many opportunities for brand exposure via monument and on-building signage. Up to 180,000 s.f. is available for lease here.
About MSP Commercial
At MSP Commercial, we provide healthcare real estate expertise to providers throughout the Twin Cities, including ground-up medical office development, project management, and property management.
Healthcare is our specialty. The proof is in the numbers: 93% of our portfolio is healthcare environments. We currently manage over 1.3 million sf of healthcare environments. Our qualified and certified team of real estate professionals have 100+ years of experience and are trained in healthcare environments. We provide 24/7 support to our clients so they can focus on their clinics, their staff, and their patients.
Download the entire Press Release here.