Scannell Properties noted as largest developer in the Twin Cities area
Last week, the Minneapolis/St. Paul Business Journal published its annual list of top developers in the area, and Scannell Properties was at the top. We had more than 4.1 million square feet of new development in the Twin Cities over the last three years.
The booming industrial market in the Twin Cities is largely behind our success. Demand is up. Speculative buildings are being leased quickly, and build-to-suit projects have increased.
“The velocity of lease-up in the industrial sector is like nothing like we’ve ever seen before,” said Tim Elam, managing director, in this article featuring Scannell’s growth in the Twin Cities.
The article traces our activity from pre-pandemic to now, with a nod to our future in the area. For example, while we plan to continue industrial development, we are also looking at multifamily and large mixed-use projects that would include housing, office, retail, and industrial pieces.
“I think that’s one of our goals in this market … to have a wider diversification of product types,” Elam said.
Read the article here.