MILWAUKEE, WI, April 5, 2023 — F Street has announced that we have completed the funding for F Street Augusta 1, LLC after raising $5,220,000 from investors and PACE financing. The initial phase for this project will include the purchase of 20.85 acres and the construction of a 234,433 sq. ft., 36 ft. clear Class A building, which is now scheduled to commence later this month.
This is the first development project for F Street in Minnesota, but it will join a growing portfolio of Class A industrial developments. The development is aimed at fulfilling the need for new quality class A industrial warehouse/distribution product in the St. Augusta/St. Cloud market. The building’s construction is estimated to be completed in December 2023.
St. Cloud MSA’s Industrial Market is an extremely well-located satellite market of the greater Minneapolis industrial market. Located just under an hour’s drive northwest of Minneapolis along I-94, St. Augusta serves as the distribution hub for goods traveling from Minneapolis towards central/upper Minnesota, Northwest Wisconsin, and the Dakotas.
F Street has partnered with Keller Construction and CBRE for this project, as leasing initiatives have already been underway.
Additional development phases for this project are currently under consideration.