Transaction brings The Cubes at French Lake in Dayton, Minn., to full occupancy

CRG, the national real estate development and investment firm, today announced Daedex, the national custom data center cooling equipment manufacturer and subsidiary of MAS HVAC, has signed a long-term lease for the remaining 503,440 square feet at The Cubes at French Lake, a 1,006,880-square-foot Class A industrial development in Dayton, Minn.

Located at 11500 Lawndale Lane, just northwest of Minneapolis, The Cubes at French Lake is the largest speculative industrial project ever developed in Minnesota.

“We are excited to expand our operations with our new 500,000-square-foot facility, reaffirming our commitment to the U.S. data center market,” said Clarke Story, founding member at Daedex. “We look forward to providing innovative air handling and liquid cooling solutions that drive efficiency, sustainability and rapid deployment for our customers.”

With this lease, The Cubes at French Lake is now fully leased, affirming strong demand for modern, high-capacity logistics and manufacturing facilities in the Minneapolis-St. Paul metro. Daedex joins States Manufacturing Corporation, which previously leased the other half of the building in a transaction announced in January.

“We are thrilled to welcome Daedex to The Cubes at French Lake and to celebrate the full lease-up of this state-of-the-art facility,” said Susan Bergdoll, senior vice president and partner, Midwest Region, at CRG. “This milestone underscores the region’s strong industrial fundamentals and CRG’s strategic vision for delivering next-generation assets tailored to high-performance users.”

Designed to accommodate large-scale distribution and manufacturing operations, the cross-dock warehouse was completed in 2024 and features 40-foot clear heights, ESFR sprinkler systems, LED lighting, 169 dock doors, four drive-in doors, 60-foot speed bays, and ample trailer and vehicle parking.

The two leases at The Cubes at French Lake are the largest signed in the Minneapolis-St. Paul metro in the past three years, according to CBRE research. CBRE Senior Vice Presidents Dan Swartz and James DePietro and First Vice President Austin Lovin represented CRG in the lease transactions, while Brent Masica and Danny McNamara of Cushman & Wakefield represented the tenant.

Located on 65 acres near the intersection of County Road 81 and Dayton Parkway, The Cubes at French Lake offers immediate access to Interstate 94 via the Dayton Parkway interchange. The development is approximately 35 miles from Minneapolis-Saint Paul International Airport and 20 miles from downtown Minneapolis.

According to CBRE’s second-quarter 2025 industrial report, the Minneapolis-St. Paul metro’s industrial vacancy rate was 3.9%, versus the national rate of 6.6%.

The Cubes at French Lake was designed by CRG integrated partner Lamar Johnson Collaborative, while its parent company, Clayco, served as general contractor.

About CRG:
CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mixed-use assets. The firm serves clients and investors from seven regional offices, benefiting from local expertise in Chicago, St. Louis, Seattle, Southern California, Phoenix, Philadelphia and Atlanta. CRG has developed more than 12,500 acres of land and delivered over 220 million square feet of assets exceeding $14 billion in value. For more information, visit CRG’s website at www.realcrg.com.

About The Cubes:
The Cubes is a North American industrial brand owned and developed by CRG. The Cubes represents CRG’s philosophy of developing for the future and anticipating the enhanced needs of tomorrow’s modern industrial users. The Cubes are designed with an emphasis on sustainability and implement state-of-the-art specifications, including maximum clear heights, dock doors and trailer storage, to keep pace with the shift to consumer-centric logistic strategies. The Cubes are located in strategic locations that take into consideration both logistics and labor supply, always with the end user in mind.

About Clayco:
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $7.6 billion in revenue for 2024, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.

About Lamar Johnson Collaborative:

Lamar Johnson Collaborative (LJC) is a Chicago-based full-service design and architecture firm that provides integrated delivery and full turnkey solutions across multiple industries. LJC’s services include architecture, interior design, landscape architecture, planning and urban design, sustainability and technical/quality assurance. The company is a wholly owned subsidiary of Clayco, a full-service, real estate, architecture, engineering, design-build and construction firm. Though LJC works closely with companies in the Clayco family of brands, more than half of its business is with outside developers and general contractors.