In Chaska, Ramsey, (Minnesota), and Raleigh (North Carolina), nine speculative new Oppidan warehouses totaling US$157 million are scheduled to be built. According to Oppidan Investment, the projects would produce 1.55 million square feet of industrial space. Construction has already begun in three different locations. Oppidan, the developer of Pillars of Prospect Park senior home in Minneapolis, as well as the Lowa46 apartments and Cub Foods store, is currently looking for additional industrial projects in its other markets, which include Texas, North and South Carolina, Virginia, Maryland, and California. Its new project in Minnesota will construct two “bulk warehouses” in Chaska totaling US$37.6 million, branded as the Chaska Creek Industrial Park.
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The first of the two new Oppidan warehouses structures are now under construction, with R.J. Ryan Construction of Mendota Heights serving as general contractor. Chaska Creek, I will be 168,000 square feet when completed in June. The construction of Chaska Creek II’s 133,000 square feet begins in May and is expected to be completed in November 2022. Oppidan is also constructing the US$44 million Bunker Lake Business Park in Ramsey, Minnesota, about a half-hour north of Minneapolis. Two of the three speculative constructions are scheduled to be finished in the fall of 2022. Ramsey’s third structure will be a 147,000-square-foot warehouse. The construction will begin in the spring.
Officials from Oppidan said they were pleased about the possibility to construct an industrial-focused facility for prospective tenants because it is the only one of its kind in the Ramsey region. The next phase of Oppidan’s industrial drive is the construction of four buildings in Raleigh on a 121-acre property to be known as Cash Corporate Life Sciences Park. Another US$77 million will be spent on this project. “We began working on this two years ago in order to re-emphasize industrial and devote more effort to it. We saw a lot of the retail industry go into e-commerce and the demand there. This prompted us to develop this approach in order to have a larger industrial pipeline in the future “Oppidan President Blake Hastings stated.
