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Standard Real Estate Investments, Endeavor Development Sell 174K-SF Industrial Facility in Minnesota
Standard Real Estate Investments and Endeavor Development announced the sale of Cobalt Business Center, a 174,288-square-foot industrial facility located in Mendota Heights, Minnesota.
The project had strong leasing activity throughout construction and was fully pre-leased prior to construction completion. The property was subsequently acquired by a private investor. Located on a 10.1-acre infill site in Mendota Heights, Cobalt Business Center benefits from access to MSP International Airport and major transportation corridors.
The surrounding area is home to major employers, including Amazon, Blue Cross Blue Shield, and Ecolab. Cobalt Business Center features 32’ clear heights; 15 dock positions, and 4,000 amps of power.
“Cobalt Business Center is a great example of what happens when the right partner, the right product and the right market come together,” said Lindsay Louie, principal at Standard Real Estate Investments. “We believed in the Minneapolis industrial market, where demand for modern, well-located space has outpaced new supply, and the results proved that out.”
