Agenda - Economic Development Authority - 08/12/2021

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fund equity, co -investor equity and debt). To learn more about Rockpoint Group, visit www.rockpoint.com. Part 2 — List of Shareholders/Partners Oppidan Investment Company Rockpoint Group, LLC Part 3 — Description of Project Oppidan's Industrial project on Bunker Lake Blvd in Ramsey provides a unique opportunity for a high -quality industrial park development opportunity in the Twin Cities North Central Industrial Submarket. At a macro -level Ramsey, Anoka, and Coon Rapids are a subset within the North Central submarket. Users located in these communities seldom explore opportunities outside these communities. When migration from these communities has occurred it has largely been due to a lack of available opportunities in the immediate area (existing buildings and landsites). Speculative development in this vicinity in the past 10 years has been limited to a 3-building design project developed directly south of Bunker Lake Business Park. These three buildings totaling approximately 175,000 SF (51K, 60K, & 64K SF) were developed in 2018 and 2019. All 3 projects were fully -leased within months of construction completion without any advertising to the brokerage community with tenants secured with limited broker representation. All three buildings are 24' clear and offer dock and drive-in loading. At present there are no speculative or BTS opportunities being marketed in Ramsey, Anoka, or Coon Rapids. There is one building under construction to the South of the proposed project consisting of approximately 72,000 s.f. that will be available in 2022. Oppidan is planning to develop 3 buildings totaling 405,300 s.f. in Ramsey that are all class A quality. This product is going to be the crown jewel of Ramsey. Construction is expected to start (if economic hurdles can be overcome by way of TIF) in the fall of 2021 with grading and site work commencing. In the Spring of 2022 two buildings would be built to kick of the first phase of the project. The second phase of construction would commence in the Spring of 2023 and be completed in the late fall of 2023. Part 4 — But For Analysis Oppidan Investment Company believes there is a community need for industrial office/warehouse development in Ramsey, MN. The site described in the application totals 43 acres with the intent to subdivide the land into multiple parcels providing approximately 33 acres for the Industrial buildings and keeping 10 acres of wetlands and community trails.