Twin Cities Industrial Real Estate Sector Is On The Rise
Star Tribune - May 26, 2018 - Nicole Norfleet
Growth of e-commerce, manufacturing is turning the ugly duckling of commercial real estate into its strongest, most profitable sector. Scott Tankenoff of Hillcrest Development doesn’t usually just buy land — at least not without a building on it. But when he was approached about an undeveloped, 39-acre property in Cottage Grove zoned for industrial use, he took a chance and, last month, started building an industrial park. Tankenoff’s leap shows just how far the strong economy has taken the Twin Cities industrial real estate scene. It’s attracting not just developers, but end customers and investors from far away. And across the country, the business long thought of as the ugly duckling of commercial real estate, is now “the strongest and most profitable sector,” an industry trade group said recently.