Minnesota

MENDOTA HEIGHTS, MINN. — Standard Real Estate Investments LP and Endeavor Development have formed a joint venture to develop Cobalt Business Center in the Minneapolis suburb of Mendota Heights. The 174,288-square-foot industrial building is slated for completion in the second quarter of 2026. Endeavor received approval from the city last month and plans to begin demolition of the existing building, which was formerly occupied by Le Cordon Bleu College of Culinary Arts. The project, situated in the Minneapolis Airport submarket, will feature a clear height of 32 feet, 15 dock positions, LED light fixtures and 4,000 amps of power.

ROSEMOUNT, MINN. — EGA Spectro Alloys, a Midwest-based producer of recycled aluminum alloys, has begun production at its aluminum recycling expansion project in Rosemount. The 90,000-square-foot facility will produce up to 120 million pounds per year of recycled aluminum billets from scrap aluminum. The expansion will add up to 50 full-time jobs once the facility reaches full production capacity in the first quarter of 2026. Aluminum billet, logs of aluminum up to 25 feet long, is used as raw material for extruders, which turn it into products like railings, window and door trim, and structural components for cars, boats, airplanes, trailers and docks. Recycling aluminum requires 95 percent less electricity than producing new aluminum and generates a fraction of the greenhouse gas emissions. Metal from the facility will be sold under EGA’s recycled product brand RevivAL, a nod to the company’s 52-year history of giving used aluminum new life. The facility also features a new laboratory.

CORCORAN, MINN. — Hempel Real Estate and its institutional joint venture partner TPG Angelo Gordon have broken ground on Brockton Business Park in Corcoran, about 22 miles northwest of Minneapolis. The groundbreaking represents the first deployment of capital under a new $300 million programmatic joint venture between the two firms aimed at building and acquiring industrial assets across the Midwest over the next five years. The project’s first phase includes a 286,120-square-foot industrial facility on a 20-acre parcel. The site will feature ample trailer and auto parking, direct access to County Road 101 and convenient connections to I-94 via Dayton Parkway and the future Highway 610 extension. Plans for Phase II include an additional 252,120 square feet of industrial space. RJ Ryan Construction is the general contractor, with architecture and site design by Lampert Architects and Kimley-Horn. Shell completion is slated for the second quarter of 2026. Chris Garcia, Dan Larew and Eric Batiza of JLL will market the project for lease. Bridgewater Bank provided the construction mortgage.