NEWS

 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.

Cottage Grove Development Lands Cardboard Manufacturer

Finance & Commerce - Sept 13, 2019 - William Morris

Cardboard manufacturer North Star Sheets didn’t dawdle when it decided to open its first Minnesota facility. In fact, North Star, which is owned by Indianapolis-based Schwarz Partners, needed to be up and running in 12 months or less, said Opus Development Co. Senior Director Phil Cattanach on Thursday. Schwarz did not return a call seeking comment for this article. Fortunately, Opus and Hillcrest Development had just the spot: 16 shovel-ready acres just off of Highway 61 in Cottage Grove. The partners began construction Tuesday on the 161,000-square-foot warehouse building and expect to complete it in September, just nine months after North Star’s initial request.

Opus, Hillcrest Kick Off Cottage Grove Business Park With Cardboard Plant

Minneapolis | St. Paul Business Journal - Apr 3, 2018 - Nick Halter

Developers are kicking off the first phase of a Cottage Grove business park with a 161,000-square-foot building for cardboard maker North Star Sheets. Minneapolis-based Hillcrest Development owns 40 acres of land just south of Highway 61 and near Hamlet Park. It’s partnering with Minnetonka-based The Opus Group to develop what they’re calling the Southeast Industrial Park. The first phase for North Star Sheets takes up 16 acres. Opus designed the building and is serving as general contractor.

In Cottage Grove, Industrial Projects Pick Up Steam

Finance & Commerce - Apr 21, 2015 - Adam Voge

The big industrial projects just keep coming in Cottage Grove. Fresh off news that Renewal by Andersen would add a $38 million, 125,000-square-foot building in the city, a local company and two active developers are each planning new industrial projects nearby. Minneapolis-based Hillcrest Development and the Minnetonka-based Opus Group on Tuesday announced plans for the 40-acre Southeast Industrial Park, a multi-phased industrial project on the northwest corner of Hemingway Avenue South and 91st Street South. The park could include between 425,000 and 550,000 new square feet of projects, split between two to four buildings.

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