 |
| Blake Hastings |
MINNEAPOLIS, MN – JLL Capital Markets announced it has arranged a $157.3 million joint venture equity partnership for the development of three high-quality bulk distribution and life sciences projects totaling 1.55 million square feet in Minneapolis-St. Paul, Minnesota, and Raleigh-Durham, North Carolina.
 |
| Colin Ryan |
The
pipeline comprises nine state-of-the-art buildings on three development sites.
Five buildings are expected to begin construction this year, with anticipated
completion for all nine in 2022 and 2023.
The
future Chaska Creek Industrial Park is in the southern part of the Minneapolis-St.
Paul MSA in Chaska. The two-building bulk warehouse will be expandable for a
variety of industrial operations and surrounded by amenities.
 |
| John Huguenard |
There
are currently no other active or speculative industrial asset opportunities
within the Ramsey area.
The
Raleigh-Durham project – Cash Corporate Life Sciences Park – will be a
four-building life sciences project constructed on a 121-acre site at 2100
Production Dr. in Apex.
 |
| David Berglund |
“We
are excited to embark on a programmatic relationship with Rockpoint and
continue to grow the industrial and logistics vertical at Oppidan,” said Blake
Hastings, Oppidan President. “Our cultures are very well aligned, and we
look forward to a long, deep relationship.”
The
JLL Capital Markets team that represented the developer was led by Senior
Managing Directors Colin Ryan, John Huguenard, David Berglund and Pete Pittroff
and Managing Director Patrick Nally.
 |
| Pete Pittroff |
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
 |
| Jay Moore |
About Oppidan
Since 1991, Oppidan Investment Company
has been providing development, construction and project management, asset
management, and brokerage services to the retail, industrial, commercial,
residential, senior housing, affordable housing and mixed-use markets.
Oppidan has developed more than 550
projects valued at more than $4 billion and spanning 25 million-square feet
throughout 39 states and parts of Canada.
 |
| Tim Brent |
Oppidan has been named a Best Places to
Work by Minneapolis/St. Paul Business Journal for two years in
a row. To learn more about Oppidan, visit oppidan.com.
About Rockpoint
Group
Rockpoint
Group, L.L.C. (“Rockpoint”) is a real estate private equity firm headquartered
in Boston and with additional primary offices in San Francisco, Dallas and
London.
Rockpoint
employs a fundamental value approach to investing and targets select product
types located in major markets in the United States.
CONTACT:
Kimberly
Steele,
JLL
Manager,
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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