5. PCSR 10-12-2004 - Laserfiche WebLink

Home Browse Search

REJournals.com - A hot corner in Rogers Page 1 of 2 sett s3s ' x; r n,;; n,!4 3, .,r¢ ,4, !& � s e L3' V&e a/vgre a ro rw f7 {NNSOTA . , 4,d4n:, PA {EW MINNESOTA Thinking abed making someea:renitchangesto!our count spaceorare Ito looking for REAL ESTATE JOURNAL Attend the Extreme Office Makeover Conference Aug. *a. . ... ar-`9 r.;o. . =x " Aug. 16, Thursday August 12 2004 A hot corner in Rogers Staff Writer RE]ournals.com James DePietro has his reasons for calling the intersection of Diamond Lake Road and Wilfred Lane in Rogers a hot corner. In addition to the speculative project that he is marketing, there are currently two sizable build-to-suit in the works at that junction. + "There's three-quarters of a million square feet of new properties being built," Wed' says the first vice president at CB Richard Ellis. "If you stand at that Septe intersection, you feel like the world is on fire. It's amazing." Yap On Monday, Opus Northwest LLC will kick off construction of a 285_QQ0 square, i�� foot building at 20000 S. Diamond Lake Road for Archway Marketing Services with an official groundbreaking. The office distribution facility, which is scheduled for completion by February 2005, is Opus' third project for Archway. Meanwhile, last week Marfield, Belgarde and Yaffe Cos. (MBY) held a Thin groundbreaking ceremony for Diamond Lake Industrial Center Phase II, a mak 259,000 square foot building at that same corner. extra So far, no lease deals have been inked for the speculative project. However, toyo DePietro says that he is talking to several prospective tenants for the building, S which features 32-foot ceilings, 40- by 45-foot column spacing and ESFR sprinklers designed for Class Four commodities. The building, which is divisible by 21,600 square feet, also has 10,800 square foot bays, 24 8- by 10-foot dock doors, eight 12- by 14-foot drive in doors, onsite trailer storage and designated outside storage. MBY's project is surrounded by many recent and ongoing projects. In addition Es to the Archway project, Opus Norwest is wrapping up construction on a 109,300 square foot distribution center for Thorne DiGtrihuting_Cn,,, a distributor Ad of Anheuser Busch and Heineken products. In 2001, Opus completed a 400,000 square foot headquarters facility at 18950 South Diamond Lake Road for Archway in 2001. That same year MBY completed the 244,000 square foot Diamond Lake Industrial Center I at 12999 Wilfred Lane. R r Michele Foster, senior director of real estate development for Opus, says the availabilit o "u•. -ratel . ' -. . .•" ' Roger u.. - . . - •• '1 1 for Thorpe and Archway. Both companies are headquartered in the Northwest To ' suburbs. Our e-N "We've just been really pleased with the responsiveness of the city and the http://www.mrej.com/story.cfm?Market=MN&StoryID=12885 8/16/2004