35,781 square-foot lease brings Stacks III building to 100% occupancy
Hyde Development, M. A. Mortenson Company and Colliers International | Minneapolis-St. Paul are pleased to welcome Resolution Medical to Northern Stacks, the state-of-the-art industrial distribution and office/warehouse business park in Fridley, MN. Resolution Medical signed a multi-year lease to occupy 35,781 square feet of the 133,200-square-foot Stacks III, bringing the building to full occupancy.
Northern Stacks is a joint venture of Hyde Development and M. A. Mortenson Company.
Resolution Medical is a growing medical device engineering and manufacturing firm that provides innovative business solutions to the medical industry. Leadership at Resolution Medical were looking to expand not only their custom device clean room manufacturing capabilities, but also their research and development “incubator” space which houses their team of engineers and designers who develop, test and produce custom devices to solve for their clients’ specialized medical device needs.
The team at Resolution Medical scoured the Twin Cities metro in search of a space that would fit their needs and found that moving into a med-tech building previously occupied and built for another tenant’s need wasn’t going to fit the bill. In regard to the opportunity at Northern Stacks Jon Ewert, Vice President of Operations at Resolution Medical says, “What attracted us to Northern Stacks was not just the visibility and community that the Stacks offer, but the opportunity to customize our space to fit our exact needs, with an eye on how the space can flex to fit our future growth as well.” Jon added, “The location of the Stacks is ideal for our new facilities, as it keeps us close to our clients and at the center of the med-tech industry in the Fridley area.” The move to Northern Stacks comes at an exciting time for the rapidly-growing firm who have been headquartered in Fridley since their inception 6-years ago and are moving into a much larger space at Northern Stacks.
Vice Presidents Eric Batiza and Jason Simek with Colliers International | Minneapolis-St. Paul represented the Landlord in the completion of the Resolution Medical lease. Jack Tornquist of CBRE represented Resolution Medical.
Resolution Medical will be the first medical device firm to occupy Northern Stacks, “We are excited to be adding the medical manufacturing use to the diverse group of businesses at Northern Stacks, which already include distribution, entertainment, manufacturing and defense” said Eric Batiza, Vice President of Colliers International | Minneapolis- St. Paul.
“We hold Resolution Medical in high regard and are thrilled to welcome them to the Stacks, their move tips the scale at the Stacks, bringing all completed buildings in the park to 100% occupancy” said Paul Hyde of Hyde Development. When the Northern Stacks complex is complete there will be a total of 7 buildings. To date, five buildings have been completed and four are fully leased. Availability remains in Stacks V with Stacks VI slated for delivery March 2018 and Stacks VII breaking ground Spring, 2018.
Current tenants at Northern Stacks include, most recently; Axalta Coating Systems (Stacks V) MYGrant Glass, VStar Entertainment Group and Benchmark Logistics (Stacks IV) Dero and Everlast both PlayCore Companies (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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