The Cubes at French Lake is the largest speculative industrial facility and first state-of-the-art super bulk inventory facility in Minnesota
CRG, the national real estate development and investment firm, today announced it has started construction on The Cubes at French Lake, CRG’s first super-bulk inventory distribution facility in Minnesota and the largest speculative industrial project ever developed in the state. The 1,006,880-square-foot development is located on 65 acres near the intersection of County Road 81 and Dayton Parkway at 11500 Lawndale Lane in Dayton, Minn. The site is approximately 35 miles from the Minneapolis-Saint Paul International Airport and 20 miles from downtown Minneapolis’ strong labor pool.
The Cubes at French Lake is expected to open in 2023. It will offer immediate access to U.S. Interstate 94 via the new Dayton Parkway interchange, which was completed in fall 2021.
“Today’s modern industrial users are very discerning in terms of market, build quality, amenities and highway access,” said Jeff Lanaghan, senior vice president – Midwest Region and partner at CRG. “The Cubes at French Lake is the largest speculative industrial project in Minnesota to date, which not only addresses a significant market gap in the third-largest metropolitan area in the Midwest, but also provides tenants access to a strong labor pool in the ideal location for distribution networks.”
Upon completion in 2023, the 1 million-square-foot cross-dock warehouse will offer the same industry-leading features that have become the hallmark of CRG’s The Cubes brand, developed for next-generation industrial users. Specifications include 40-foot clear heights, ESFR sprinkler systems, high-efficiency LED lighting, 652 parking spaces, a 185-foot depth concrete truck court, 231 trailer parking spaces, 169 9-foot-by-10-foot grade-level dock doors, four 14-foot-by-16-foot drive-in dock doors, 60-foot speed bays and more.
According to Cushman and Wakefield’s 1Q22 industrial report, the Minneapolis-St. Paul market’s unemployment rate dropped to 2.8% in first-quarter 2022 – a quarter-over-quarter decrease of 50 basis points – while the state figure dropped to its lowest since 1999 in February. Meanwhile, the metro’s labor force participation rate increased to 67.9% – approximately 5.5 percentage points above the national average in first-quarter 2022. The market continues to see a decline in available industrial space, with the vacancy rate dropping to 3.5% in 1Q22, representing a decrease of 70 basis points year-over-year.
The Cubes at French Lake was designed by CRG integrated partner Lamar Johnson Collaborative, while its parent company, Clayco, is serving as general contractor. Lee & Associates Principal Chris Garcia, SIOR, and Associate Grace McGuire are leading the leasing efforts for the new building.
Additional project information and renderings are available on the detailed project page at RealCRG.com.
