MAPLE GROVE, MINN. — Endeavor Development and PCCP have formed a joint venture to develop two Class A industrial buildings in Maple Grove, a northwest suburb of the Twin Cities. Totaling 443,096 square feet, the project will serve as the second phase of Arbor Lakes Business Park. Duke Realty developed the first phase of the business park, which is now fully occupied.
Both buildings will feature a clear height of 32 feet along with dock doors, drive-in doors and car parking stalls. The buildings will share a 180-foot truck court. Construction will commence at different times, with completion of the first building slated for June 2022 and completion of the second building scheduled for fall 2023. David Berglund and Colin Ryan of JLL arranged the joint venture equity partnership and also represented the partnership in the land purchase. Scott Loving of Colliers International handled the debt placement. Dan Swartz of CBRE will serve as leasing agent.