Oppidan, Rockpoint to develop life sciences, industrial sites for $157m

Oppidan Investment Co. and Rockpoint Group are forming a $157.3 million joint venture partnership to develop three life sciences and industrial projects.

The properties will include nine buildings, spanning 1.6 million square feet across Minneapolis-St. Paul and Raleigh-Durham, N.C. The buildings are slated for a gradual delivery through 2023. The recently released JLL Life Sciences Emerging Markets Index gave the Raleigh-Durham market high index scores for wages and potential, two of its key metrics for the sector.

Two of the nine buildings will be within Chaska Creek Industrial Park, which is 26.5 miles from Minneapolis in Chaska.

Three buildings will be situated within Bunker Lake Business Park, which is located 28.1 miles from Minneapolis in Ramsey.

And the remaining four buildings will be part of Cas