Minnesota’s Largest ‘Spec’ Industrial Project Is Completed
January 30, 2024
Construction of a massive one-million-square-foot industrial building has been completed about 20 miles northwest of Minneapolis. The kicker? The building has no tenants yet.
On Tuesday, commercial real estate giant CBRE announced that national developer CRG has completed construction of The Cubes at French Lake, a 1,006,880-square-foot industrial development on about 65 acres in Dayton. CBRE is serving as the site’s leasing broker.
The site is the state’s first “super-bulk inventory distribution facility,” CBRE officials said. The project was also constructed speculatively, or “spec” for short, meaning it was built ready for move-in without a specific tenant in mind. In the office market, spec projects have gained in popularity in recent history.