Science Center Business Plaza
New Hope, MN
Functional industrial flex property with value-add upside located in the desirable Minneapolis suburb of New Hope.
9421 SCIENCE CENTER DR
NEW HOPE, MN 55428
The Science Center Business Plaza is a 74,198 square foot industrial flex property located in New Hope, Minnesota. The property was constructed in 1989 and offers tenants a blend of functional warehouse and office floor plans. The building is currently ±66% occupied and is anchored by a medical device design and research company on a long-term lease.
New Hope, Minnesota, and the surrounding area is a medical research and life sciences hub. The sub-market’s abundance of flex industrial buildings coupled with its proximity to the University of Minnesota creates a constant flow of rental demand by new research companies. The Science Center Business Plaza benefits from a diversified rent roll that captures the high rents paid by medical research tenants while leveraging the stability of standard flex users. This building provides significant upside potential by leasing out the remaining ±34% of the building.