Medical-device manufacturer Nextern consolidating into new $25M Maple Grove HQ

Medical-device manufacturer Nextern Inc. plans to consolidate its 225 employees into a new corporate headquarters in the Arbor Lakes Business Park in Maple Grove.

Previously referred to as “Project Next” in Maple Grove city documents, Nextern’s new headquarters will be located amongst three industrial buildings planned by Edina developer Endeavor Development. Endeavor broke ground on the new $25 million building May 1, said Nextern’s CFO Brian Iacono. Nextern is looking to move in the summer of 2024 and will be leasing the roughly 110,000-square-foot space.

Endeavor started working on the addition to Arbor Lakes Business Park after purchasing the land in March. That same month, the Maple Grove City Council approved a $2.43 million tax increment financing agreement for the business park. Endeavor's founder, Josh Budish, has described the Arbor Lakes development as "truly modern," and touted its proximity to the large Arbor Lakes retail center. The project is located at the southeast corner of Fountains Drive and Zachary Lane, near Interstates 94 and 694.

Read the full article online at Minneapolis/St. Paul Business Journal.