Seefried Industrial Properties has purchased two vacant properties located in Rosemount at $10.025 million. The company plans to construct an automated distribution facility that is connected to rail.
The city was able to approve the developer’s plans in the month of August that outlines the building of a 417,600-square foot warehouse and distribution facility together with an outdoor area of 210,400 square feet storage space. The location will be in the Rosemount business park and public records reveal that Home Depot will occupy the building.
The developer in Atlanta bought one property from Pahl Family Limited Partnership for $5.125 million The other was purchased was purchased from JJT Financial LP for $4.9 million. Seefried was operating as Seefried PSO Rosemount LLC when it was involved in these transactions based on electronic certificates of value for real estate.
Seefried has been involved with Twin Cities projects before, including the Amazon Fulfillment Center in Shakopee. The developer built the 2.3 million square feet facility in the year 2016
Rosemount properties are located along the railroad that connects to Minnesota State Highway 3, and also to the to the south from 150th Street West. District offices for the Independent School District of 196 are located across this highway and property. There are a few commercial and restaurant buildings is just a quarter mile to the northwest of the property as is the Minnesota University’s UMore Park is to the east.
The city-approved plans propose expanding Boulder Avenue south, making the road run along the eastern border of the land. The property is also expected to be connected to the railway system. The two railroad spurs — tracks for railroads that branch off from the main line in order to permit customers to unload and load railroad cars included in the plan.
The Minnesota Department of Employment and Economic Development granted an amount of $375,000 for the project. in this year to support the project that’s called Home Depot USA, Inc. The money is intended to assist businesses to expand according to the DEED website.
The site is located in downtown’s city’s commercial park. The project will encompass greater than 71 acres with a screening wall as well as chains link fence will be built to enclose the park. MacGregor Associates Architects, based in Atlanta is the design firm that conceived this project. It is dubbed “Project Osprey,” according to the city’s documents.
The business park has approximately 300 acres for development, according to Eric Van Oss, Rosemount’s economic development director.
“We’ve been blessed with a lot of land that’s been … ready for shoveling. In the past year, we’ve witnessed lots of curiosity,” Van Oss said.
The city is building new railroad routes and road connections within the park. The park has seen several other recent industrial projects come to an end and many more are being considered, he said.
The city also has set the goal of developing the County Road 42 corridor, in anticipation of a double-digit increase in population growth and a continued increase in housing. The study, released in summer of last year gives guidance on future developments along the corridor, that could include business parks as well as retail, industrial green spaces mixed-uses recreation, and much many more, as per reports of Finance & Commerce.
The land in the area designated for business parks and industrial developments has been receiving more attentionas the amount of inquiries nearly doubled in the last calendar year Van Oss said.
“We’ve had quite a bit of interest — anything from distribution to manufacturing to kind of a hybrid [project] — there’s just been a lot of interest looking for … that business park land,” Van Oss told.
