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Rendering of Arbor Lakes Business Park Building VI. Image courtesy of Cushman & Wakefield
MAS HVAC, an air-conditioning equipment manufacturer, has signed a 150,000-square-foot lease at Endeavor Development’s Arbor Lakes Business Park in Maple Grove, Minn. The tenant will use the space as its new headquarters, in addition to manufacturing and logistics operations, starting in January 2024.
Cushman & Wakefield Executive Director Brent Masica negotiated on behalf of the tenant. According to the owner’s website, CBRE is in charge of marketing the property.
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MAS HVAC will move in the upcoming Building VI—a 203,020-square-foot facility that is currently under construction within the Arbor Lakes Business Park. The building is planned to include a 15,000-square-foot office component. Construction started earlier this year, as part of the project’s second phase of development.
Arbor Lakes is a 50-acre master-planned industrial park, slated to include nine buildings comprising 1.9 million square feet, according to CommercialEdge data. Endeavor is developing the park in a joint venture with PCCP.
The first phase included buildings I and II, currently leased by several tenants—ILLUME, Industrial Netting, Sensiva, Dane Technologies and Mikros Engineering—CommercialEdge also shows. Subsequent phases will potentially see the construction of five more buildings.
Other industrial developments in the region include The Opus Group’s recent projects, totaling 380,000 square feet. In February, the company completed the 130,439-square-foot Nordeast Business Center in Minneapolis, the 137,178-square-foot Sanctuary Business Center in Blaine, Minn., and the 111,820-square-foot Johnny Cake Business Center in Apple Valley, Minn.
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