Transaction is largest industrial lease to be signed in Minneapolis metro in two years
CRG, the national real estate development and investment firm, today announced States Manufacturing Corporation has signed a long-term lease for 503,440 square feet at The Cubes at French Lake, the first super-bulk inventory distribution facility in Minnesota and the largest speculative industrial project ever developed in the state.
The largest industrial lease to be signed in the Minneapolis-St. Paul metro in the past two years, according to CBRE, the lease is for half the space at The Cubes at French Lake, a single-building, 1,006,880-square-foot Class A industrial facility at 11500 Lawndale Lane in Dayton, Minn., northwest of Minneapolis. CBRE Senior Vice Presidents Dan Swartz and James DePietro and Senior Associate Austin Lovin represented CRG in the transaction, while Brent Masica and Danny McNamara of Cushman & Wakefield represented the tenant.
“The Cubes at French Lake reflects CRG’s commitment to delivering deeply modern, high-quality industrial facilities that meet the needs of users like States Manufacturing,” said Susan Bergdoll, senior vice president and partner, Midwest Region, CRG. “The project offers an excellent location with immediate highway access and proximity to distribution networks and labor pools of Minneapolis-St. Paul and beyond. The advanced building specifications and flexibility of the space make it an ideal solution for users like States Manufacturing.”
Completed in 2024, the cross-dock warehouse includes 40-foot clear heights, ESFR sprinkler systems, high-efficiency LED lighting,169 9-by-10-foot grade-level dock doors, four 14-by-16-foot drive-in dock doors, 60-foot speed bays, a concrete truck court with 185-foot depth, 231 trailer parking spaces, 652 parking spaces and more.
States Manufacturing has started building out its space to support the fabrication and manufacturing of custom electronic and metal products. The company will keep its current headquarters in Champlin, Minn., and use The Cubes at French Lake to accommodate recent growth. States Manufacturing began moving into the new facility on Jan. 1, 2025.
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-St. Paul International Airport and 20 miles from downtown Minneapolis.
According to CBRE’s third-quarter industrial report, the Minneapolis-St. Paul metro’s industrial vacancy rate was 3.7%, versus the national rate of 5.8%.
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 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.
CRG announced States Manufacturing Corporation has signed a lease for 503,440 square feet at The Cubes at French Lake, a 1,006,880-square-foot Class A industrial facility at 11500 Lawndale Lane in Dayton, Minn., northwest of Minneapolis.