Cobalt Business Center - Joint Venture Equity Opportunity

1315 Mendota Heights Road, Mendota Heights, MN, 55120, US

资产描述

Jones Lang LaSalle Americas, L.P. (“JLL”) has been exclusively engaged by Endeavor Development (“the Sponsor”) to act as its financial advisor in seeking a strategic partner(s) to capitalize an identified high-quality industrial development known as Cobalt Business Center (the “Property” or the “Project”) located in the infill Southeast submarket in Mendota Heights, MN. Cobalt Business Center, an industrial development totaling 174,160 SF is nestled in the heart of the highly-desirable Airport SE micro-market, one of the highest performing areas across the Twin Cities. The Property is situated on 10.12 acres and is scheduled for a July 2025 Construction Start and represents the latest development by Endeavor in the best in class region.

Endeavor is in the process of sourcing a highly accretive construction loan to fund development costs. This building continues Endeavor's successful track record of JV equity partnerships with numerous institutional capital groups.

The construction of the building is slated to begin in July 2025 and is anticipated to be complete after ten (10) months, delivering in May 2026 and stabilized in July of 2027.

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属性

建筑净面积

16,180 平方米

建筑等级

净高

9.75 m

装卸码头数量

等级门

媒体

投资亮点

Class A Development in Mendota Heights, MN
Extremely low vacancy (3.6%) in the highly desirable Airport SE micro market with little available land for development.
With only two other development currently delivered and no projects slated to break ground over the next 12-months, the Airport SE micro market is poised for significant rent growth after 8 straight quarters of positive absorption.
Excellent infill location with great accessibility to I-494 / I-35E, and Highways 55 & 62.
Best-in-class location filled with an abundant number of major employers such as Amazon, Blue Cross Blue Shield , and Ecolab.
The Southeast submarket accounted for 19% of all leasing YoY, with 2/3rds being new deals.
Situated in the heart of Mendota Heights, this location is uniquely positioned to capitalize on strong labor demographics and tenant demand due to its close proximity to the MSP International Airport.