Arrowhead Electrical Products signs lease for 30,000 sq. ft. in new building
MINNEAPOLIS (Sept. 22, 2015) – United Properties recently broke ground on a second building at Blaine Preserve Business Park and signed a lease with Arrowhead Electrical Products, Inc.; the company will lease 30,000 of the 100,000 sq. ft. in the new office/warehouse building. The global distributor of rotating electrical parts already occupies 75,000 sq. ft. of the first building at Blaine Preserve Business Park, located at Hamline Avenue and 95th Avenue Northeast in Blaine.
The Blaine City Council approved development plans for the second building this summer; construction will be substantially completed by March 2016. The second building will be located directly north of the first building.
“This is a good location for Arrowhead, with close proximity to the interstate and a solid labor pool,” said Jason Flagstad, vice president-Operations, Arrowhead Electrical Products. The company expects to use the new space at least through 2022.
The first building at Blaine Preserve is also a 100,000 sq. ft. office/warehouse, constructed in 2007. United Properties plans to develop a third, 200,000-sq.-ft. office/warehouse building at the business park, pending the entitlement process with the City of Blaine this winter.
“We’re excited to be able to accommodate the growth of this long-time tenant,” said Brandon Champeau, vice president, United Properties. “We appreciate Arrowhead’s continued commitment to this site, and are proud to bring additional employment to the City of Blaine.”
Cushman & Wakefield | NorthMarq’s Brent Masica is the broker at the property. The property team includes Lampert Architects, Civil Engineering Site Design, and general contractor R.J. Ryan.
About United Properties
United Properties, based in Minneapolis, specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail, office and industrial buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 50 office, medical, industrial and retail assets in Minnesota, Wisconsin, Illinois and Colorado. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.