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11500 Lawndale Lane North

Updated Jan 9, 2025

States Manufacturing Corp. Signs 503440 SF Lease At The Cubes In Dayton With CRG
LEASEDIndustrial

States Manufacturing Corp. Signs 503440 SF Lease At The Cubes In Dayton With CRG

11500 Lawndale Lane North

Building Size

503,440 SF

Asset Type

Industrial

Closing

Jan 9, 2025

About this deal

AI

The asset involved in this transaction is an industrial property located at 11500 Lawndale Lane in Dayton, MN. The facility encompasses a total size of 503,440 square feet and is part of The Cubes at French Lake. Developed by CRG, the property features a 40-foot clear height and is equipped with 169 dock doors. This facility is recognized as the largest speculative industrial project ever completed in Minnesota.

Summary of transaction details:

States Manufacturing Corp. has signed a lease for half of the facility, marking a significant milestone as the largest industrial lease in the Twin Cities within the past two years. The transaction highlights the increasing demand for industrial space in the market.

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Players

Daniel Swartz

CBRE

Broker

$6.3M

vol

3 deals

Broker

Osseo Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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