In Minnesota, Interstate Partners has acquired and developed over 20 buildings, totaling in excess of 1,000,000 square feet. The majority of these buildings are in four master planned business parks created by Interstate Partners – Grand Oak Business Park in Eagan, Rice Creek Corporate Park in Shoreview, BridgePoint Business Park in South Saint Paul, and Boulder Lakes Business Park in Eagan.
Currently, the Minnesota division is developing the BridgePoint land parcels in South Saint Paul and the Boulder Lakes project in Eagan. The 30-acre land parcel in South Saint Paul was formerly the last active stockyards in South Saint Paul - when developed, this property will be an additional phase of the BridgePoint Business Park and will contain three office/warehouse buildings totaling 315,000 square feet of space. In Eagan, Interstate Partners purchased 95 acres of land and completed the first two of eight planned buildings within Boulder Lakes Business Park. When completed, the Boulder Lakes Business Park will contain approximately 775,000 square feet of office and office/tech space.
The following provides an overview of the Minnesota division's principal development activities to-date:
The managing partner of Interstate Partners' real estate enterprises in Minnesota is President Greg Miller. He is a real estate development and investment banking veteran of almost 40 years.
Sub-Zero Group Inc. signed a 225,000 square foot long-term lease at Prairie Business Park III, located at 200-290 Burnet Drive. The Madison, WI-based luxury appliance manufacturer and distributor is consolidating two facilities when it relocates to Prairie Business Park. Sub-Zero was represented by Tim Rikkers of Cresa Partners. Prairie Business Park III is a 275,000 square-foot facility featuring precast construction, 32' clear height, and 40 docks in a cross-dock configuration.
WESCO Distribution, Inc. signed a 67,000 square-foot long-term lease at Prairie Business Park II, a 203,000 square-foot property located at 41-59 Prairie Parkway. WESCO is a Fortune 500 leader in industrial supply with an extensive offering of electrical, data communications, general maintenance, repair, and operating (MRO) and electrical OEM products.
The City of Elgin approved IPIL’s Watermark at The Grove, a 258-unit luxury apartment development with significant above-standard amenities!
IPIL is pleased to announce the sale of Huntley Regency, a five-building 43,350 SF retail center located on Highway 47 in Huntly, IL, that included Starbucks, ALDI, Hollywood Nails, Rookie’s All American Pub & Grill, Little Caesars, Jimmy John’s, Brunch Café, Sport Clips, Sleepy’s, and Athletico!
In Illinois, finishing touches are being completed on the retail land (accommodates restaurants, retail, office, and guest convenience users) for Prairie Business Park! For leasing information, please click the following: Video Link