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tandard Real Estate Investments, LP and Endeavor Development have partnered to develop a 174,288 square foot industrial building in Minneapolis. The Cobalt Business Center is expected to deliver into the sought-after Airport submarket in 2Q 2026. The project is shovel-ready, with demolition of the existing Le Cordon Bleu College of Culinary Arts building set to begin soon.

    Located on a 10.1-acre site in Mendota Heights, Cobalt Business Center benefits from its proximity to MSP International Airport and major highways. Nearby employers include Amazon, Blue Cross Blue Shield, and Ecolab. The development will feature high ceilings, ample dock positions, motion-sensing LED lighting, and ESFR fire protection.

    "We know there's strong demand for industrial space in this submarket," said Josh Budish of Endeavor Development. "We're excited to partner with Standard to bring this unique site to life." Lindsay Louie of Standard added, "The Airport submarket has solid occupancy and consistent demand. We believe Cobalt Business Center is a rare opportunity to deliver Class A product into an excellent infill location."

    Minneapolis is one of the tightest major U.S. industrial markets, with vacancy rates extremely low at 3.6% in the Airport Southeast area. With no other projects scheduled to break ground in the next year, Cobalt Business Center is poised to meet growing demand for modern industrial space.

    Standard's investment in Cobalt was made through its expanded industrial investment vehicle. The company has a national presence and operates a direct platform focused on workforce housing nationwide.