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    Additional Seller Terms
    Diligence Period
    15 Days
    Closing Period
    30 Days
    Deposit (EMD)
    $300,000
    INDUSTRIAL

    BOSTON SCIENTIFIC BUILDING

    BOSTON SCIENTIFIC BUILDING

    5905 Nathan Lane, Plymouth, MN 55442

    5905 Nathan Lane, Plymouth, MN 55442
    Rentable Sq. Ft.

    220,850

    Occupancy

    0%

    Year Built

    1989

    Property Information

    HIGHLIGHTS

    • Property tours are available by RSVP only, Please contact Fred Hedberg at 952-854-8382 to schedule an appointment
    • Corporate Headquarters | Flexible Office, Industrial, Manufacturing (Medical and Non-Medical) Building able to accommodate a Diverse Set of Potential Uses
    • Excellent Access to I-494, I-694 and Highway 169
    • 25.18 Acre Site Allows for Building Expansion
    • Multiple Clean Rooms
    • Dock and Drive-Loading
    • Exceptional Parking
    Primary Property Type
    Industrial
    Occupancy
    0%
    Type of Ownership
    Fee Simple
    Buildings
    1
    Assessor's Parcel Number
    01-11-22-24-0006,01-118-22-13-0005
    Transaction Fee
    See fee memo in vault
    Gross (Sq. Ft.)
    220,850
    Occupancy as of Date
    04/01/2017
    Year Built
    1989
    Floors
    2
    Lot Size (Acres)
    25.2
    Property ID
    1000003505
    Rentable (Sq. Ft.)
    220,850
    Primary Property Type
    Industrial
    Occupancy
    0%
    Occupancy as of Date
    04/01/2017
    Type of Ownership
    Fee Simple
    Year Built
    1989
    Buildings
    1
    Floors
    2
    Assessor's Parcel Number
    01-11-22-24-0006,01-118-22-13-0005
    Lot Size (Acres)
    25.2
    Property ID
    1000003505
    Transaction Fee
    See fee memo in vault
    Rentable (Sq. Ft.)
    220,850
    Gross (Sq. Ft.)
    220,850
    Detailed Description

    5905 Nathan Lane is a modern 220,850 square foot medical manufacturing building located in Plymouth Minnesota. Conveniently located in Bass Creek Business Park just west of Highway 169 on Bass Lake Road, this location provides quick and easy access to Interstate Highways 694, 494 and 394. The Park is home to many companies including Select Comfort, Polaris, Stanley, Twin Cities Fan, and Hutchinson Technology. Plymouth Minnesota is located just 12 miles northwest of downtown Minneapolis in the Northwest quadrant of the Twin Cities. It is a highly ranked, desirable suburb with an educated work force and many amenities for residents and workers.

    The building was constructed in 1989 by Opus as an office manufacturing building for Schneider USA and is currently owned and occupied by Boston Scientific. In its current use as a medical devise manufacturing facility the building has very sophisticated mechanical systems to support its ISO Class 8 (100,000) clean rooms as well as 6000 amps of 480/277 volt 3 phase power.

    With 23 feet six inches clear height in the warehouse manufacturing area, ample truck docks and abundant parking the building is suitable for a variety of office, manufacturing or ware-house uses. The building is currently served with 942 parking spaces or a ratio of over 4 per 1,000 square feet. The site consists of 25.18 acres which allows for substantial building or parking expansion. Preliminary studies indicate that the building could be expanded by approximately 114,000 square feet while still maintaining the existing parking stalls. A second option allows for a building expansion for approximately 34,000 square feet as well as the construction of a second free standing building of approximately 120,000 square feet.

    5905 Nathan Lane offers a unique opportunity for an owner user to acquire a modern medical manufacturing facility at a cost well below replacement cost. With its excess land and expansion capabilities, this property presents an investor with an excellent value add proposition. In the current tight twin cities industrial market this property offers a unique opportunity for either an owner user or investor to acquire a modern, flexible, expandable building inside the interstate belt line at a cost less than replacement cost.

    SITE/LAND DETAILS

    Parking Stalls
    942
    Zoning Designation
    I-2
    Zoning Description
    Site Description
    Parking Stalls
    942
    Zoning Designation
    I-2
    Zoning Description
    Site Description

    STRUCTURE DETAILS

    Construction Type
    Masonry
    Construction Type
    Masonry

    Contact

    • FH

      Fred Hedberg
      Paramount Real Estate
      MN Lic #2003876
      (952) 854-8382
    • David Amezquita
      Ten-X
      Client Management
      (949) 208-8512

    Document Vault

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    Building Plans (4)
    0
    +
    Demographics Report (1)
    0
    +
    Investigations (2)
    0
    +
    Offering Memorandum (1)
    0
    +
    Operating and Financial (3)
    0
    +
    Purchase Agreement (2)
    0
    +
    Re-Development Visuals (2)
    0
    +
    Ten-X Fee Memo (1)
    0
    +
    Title (1)
    0

    Market Information

    Market Overview
    The Minneapolis-St. Paul Northwest Industrial Market is the largest submarket of the five industrial submarkets comprising the universe of industrial space in the Twin City market. The Northwest Market, consisting of 41.2 million square feet of space is 48% larger than the next largest submarket, the southwest, which totals 27.8 million square feet. The submarket is bordered by the Mississippi River or Highway 252 to the east, Interstate 394/Highway 12 to the south, and reaches north to St. Cloud, and west to the city of Annandale. The dominate cities within the submarket include Plymouth, Maple Grove, Brooklyn Park and Golden Valley which are all along the 494/694/94 corridor and have limited land available for future development. New development is migrating further northwest up into the cities of Rogers, Otsego and Elk River where reason- ably price land is still abundant. Currently the northwest submarket has an overall vacancy rate of 8.3% which compares to 10% one year ago. The net absorption over the past twelve months totaled 797,480 square feet and 206,000 square feet for the first quarter of 2014. By comparison, the entire Twin City area net absorption over the past twelve months totaled 1,712,553 square feet and 527,000 square feet for the first quarter of 2014. The submarket consists of three industrial product types which include bulk warehouse (13.9 million
    Sub Market Overview
    The Northwest Submarket is characterized as not only having a significant amount of multi tenant industrial properties, but also a healthy universe of large corporate users which includes a substantial number of owner occupied and single user properties. When combined, the multi-tenant and single user/owner occupied universe totals 70.8 million square feet of space with an overall vacancy rate of 6.5%. Many well know large corporate users are located in the northwest market which include: Boston Scientific, General Mills, St. Jude Medical, Tennant Corporation, Polaris Industries, The Mosaic Company, Carlson Companies, Select Comfort, Liberty Diversified Industries (“LDI”), M.A. Mortenson and Wagner Spray Tech. Additionally, the cities of Maple Grove, Rogers, Otsego and, in particular Brooklyn Park, are all perceived as business friendly which helps attract a variety of expanding companies. Recent new users to the submarket include Graco (250,000 SF), Ruan (300,000 SF) and Shapco Printing, Inc. (123,500 SF) who just relocated from Minneapolis. As vacancy rates continue to trend downward and large vacancies diminish, speculative new development is once again rising as both local and national developers position themselves for continued industrial demand. Demonstrating the bullish outlook of developers is the approximately 2.5 million square feet of already delivered and planned new industrial development in the Twin Cities. The Graco transaction referenced above was completed in a speculative Liberty Proper-ty Trust project (Phase II) in Rogers. Phase I, measuring 250,000 SF was leased to three tenants. 68.4% of the current and planned development is 32’ clear height demonstrating the strength of high clear industrial product. Also the investor demand for modern, well leased, industrial product provides an easy exit for developers and owners who wish to sell. Additionally the northwest market has 54% of all new and planned development in the Twin Cities. In conclusion, after years of little to nonexistent improvement in market fundamentals, the Twin Cities is now experiencing a robust industrial renaissance. The impact of continued decreasing vacancy rates, rising net rates, limited options for tenants who demand well located functional product, when combined with the improving local and national economic conditions, will help to further improve user demand and market fundamentals.