Cushman & Wakefield to Lease New Industrial Development at Broadway Street NE and Industrial Boulevard NE
MINNEAPOLIS, June 19, 2023 – Cushman & Wakefield announced today that developer ALCAT Broadway LLC has broken ground and begun construction on The Broadway, a 182,000-square-foot industrial facility at the intersection of Broadway Street NE and Industrial Boulevard NE in Minneapolis.
Cushman & Wakefield’s Todd Hanson, Jason Sell and Jordan Dick lead leasing for The Broadway, which is slated to deliver in the fourth quarter of 2023.
“Delivering The Broadway will be another milestone in our long-term partnership with the City of Minneapolis,” said Stuart Shapiro, Development Lead for ALCAT Broadway LLC. “That partnership led to an efficient, high-quality new development that provides an unbeatable location, and excellent proximity to a world-class workforce.”
Located within minutes of the Interstate 35W interchange with Minnesota Highway 280, The Broadway is divisible to 40,000 square feet and offers 32-foot clear height, 33 dock doors and up to 20 spaces for trailer storage.
Additionally, The Broadway is located in an Opportunity Zone, which encourages investment and job creation in low-income areas. As an adaptive-reuse, urban site with gray-water irrigation, energy efficient building envelope and low-impact construction materials, as well as 10 EV charging stations and bike storage to encourage alternative transportation, The Broadway is seeking LEED certification as well.
The Broadway is in the Twin Cities’ Northeast submarket, which, at 2.2% vacant, posted the region’s lowest vacancy rate at the end of the first quarter, as well as net absorption of more than 450,000 square feet. The development also is the only new-construction industrial facility within the Minneapolis city limits.
“This is the best and most centralized development site in the Twin Cities and will appeal to a wide spectrum of users,” Hanson said. “The Twin Cities is one of the most robust industrial and logistics markets in the country, with the Northeast submarket being one its central hubs. This location, specifically, can support last-mile distribution to the region, logistics operations serving the entire upper Midwest or most anything in between.”
The Broadway to Debut in Minneapolis
Bailey Webb • 6/19/2023
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.