Endeavor Closes on Land for Arbor Lakes Buildings

Another round of industrial construction is coming to Maple Grove as Edina-based Endeavor Development has acquired the land it needs to build three new buildings at the Arbor Lakes Business Park.

Endeavor closed this week on a $20 million deal for three parcels within the business park at the intersection of Interstates 94 and 694, according to real estate records made public Thursday.

Brett Angell, Maple Grove’s assistant community and economic development director, told the Maple Grove City Council Monday that the projects include two speculative buildings and one for an unidentified med tech user.

The buildings will generate about 270 jobs, which is well above the city’s requirement of 100 jobs for TIF assistance, Angell said.

Joe Bergman, Endeavor’s vice president of development, said at Monday’s City Council meeting that Endeavor “wouldn’t be able to get these projects done without the support of the Council and this financing mechanism.”

Read the full article online at Finance & Commerce.