LKQ will take up the entirety of the 7th and final building at the Northern Stacks development
Hyde Development, M. A. Mortenson Company and Colliers International | Minneapolis-St. Paul are pleased to welcome LKQ Corporation to Northern Stacks, the state-of-the-art industrial distribution and office/warehouse business park in Fridley, MN. LKQ signed a multi-year lease to occupy the entire square footage of the 200,000-square-foot Stacks VII, the seventh and final building at the complex, slated for delivery January 2019.
Northern Stacks is a joint venture of Hyde Development and M. A. Mortenson Company.
LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ is headquartered out of Chicago, IL and has operations across North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.
Regarding the opportunity at Northern Stacks LKQ’s Director of Corporate Real Estate said, “What attracted us to Northern Stacks was its proximity to our customer base and the fact that it allowed us to upgrade to a class A facility and optimize our operations servicing this market.”
Vice Presidents Eric Batiza and Jason Simek with Colliers International | Minneapolis-St. Paul represented the Landlord in the completion of the LKQ lease. Vic Overholser of SDS Realty represented LKQ.
“Northern Stacks has been riding an unbelievable wave of leasing momentum with great companies like LKQ. This is the largest new lease we have signed and it’s only fitting that it will be in the last building in the park.” said Jason Simek, Vice President of Colliers International | Minneapolis- St. Paul.
“We are delighted to welcome LKQ to Northern Stacks. LKQ is the latest high-quality tenant to make Northern Stacks their home. LKQ joins a wide variety of companies at Northern Stacks; including logistics, medical technology, entertainment, manufacturing and defense which makes Northern Stacks as diverse as it is unique.” said Paul Hyde of Hyde Development.
To date, five buildings have been delivered and four are fully leased. Availability remains in Stacks V and Stacks VI, which is slated for delivery spring 2018. Current tenants at Northern Stacks include; Axalta Coating Systems (Stacks V) MYGrant Glass, VStar Entertainment Group and Benchmark Logistics (Stacks IV) Dero and Everlast both PlayCore Companies and Resolution Medical (Stacks III) as well as, MB2 Raceway and Trio Supply Company (Stacks II) and Lindenmeyr Munroe, OnTrac International and Kaufman Container (Stacks I).
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