Healthcare

Kindeva Life Sciences Facility - Woodbury

11200 Hudson Rd Woodbury, Minnesota United States 55129
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2021
Building Area Gross
Rentable Area
Occupancy 100.0 %
Call for Offers

Property description

Jones Lang LaSalle, Inc. (“JLL”) Capital Markets is pleased to present the opportunity to acquire the fee-simple interest in Kindeva Drug Delivery Global Headquarters, located at 11200 Hudson Rd, Woodbury, Minnesota (the “Subject” or “Property”). The Property is a 137,811 square foot, Class A, new construction build-to-suit life science current good manufacturing practice (“cGMP”) and research & development (“R&D”) facility leased to Kindeva Drug Delivery (“Kindeva”) which also serves as its global headquarters. Kindeva has over 14 years of term remaining on its original lease which commenced upon completion of the Property in September 2021.

Kindeva is a contract development and manufacturing organization (“CDMO”) with over 100 years of history in the space. In 2020, Kindeva was established when 3M spun out its drug delivery business in a $650 million transaction whereby Altaris Capital Partners (“Altaris”) acquired the business and 3M retained a 17% stake in the new company. As a CDMO, Kindeva is hired by pharmaceutical companies to develop different methods of delivery for products and subsequently assist in the manufacturing of the final product.

The Property is positioned in the highly desirable city of Woodbury, an affluent, high-growth suburb of Minneapolis. Woodbury’s average household income and population growth rate both greatly exceed the national averages, with income levels and five year population growth 59% and 55% higher than the national averages, respectively. Along with the favorable demographics in Woodbury, the Minneapolis MSA is quickly becoming one of the nation’s foremost med-tech and life science innovation centers. Minneapolis has seen a massive influx of investment and demand for life science, driven by record venture capital and National Institutes of Health (“NIH”) funding of $3.7 billion from 2019 through 2021. This has solidified Minnesota as #1 in med-tech jobs per capita and #2 for medical device and manufacturing firms and employees.

Investment highlights

  • State-of-the-art, Mission-Critical Life Sciences Facility
    • Mission-critical global Kindeva headquarters includes distribution, manufacturing (“cGMP”), and research and development. Kindeva has invested over $10 million, or $73 PSF, of its own capital into the space, showing its strong commitment to the location
    • Property allows for the ability to expand to help accommodate future growth
  • Industry-Leading Tenant
    • Established $300 million+ revenue global company in high-growth disposable drug delivery sector with recent buyout by Altaris and 17% retained ownership by 3M (Moody’s: A1)
    • The CDMO market has grown 33% since 2020 and forecasted to continue rapid growth
  • Desirable, High Growth Location
    • The City of Woodbury has a significant amount of construction projects underway as well as planned development in the immediate future, including a 514,000 square foot industrial facility leased by the world’s largest e-commerce company, over 1,000 multifamily and senior housing units, and many more residential and commercial projects
  • Quintessential Life Science Investment
    • ​​​​​​​Kindeva Drug Delivery is one of the few core life science offerings in the Minneapolis-St. Paul market and features a growing tenant with a long-term lease
  • Robust Minneapolis-St. Paul Economy
  • ​​​​​​​Top 10 metro in the United States in total life science employment


Class A, Global HQ, and Life Science cGMP and R&D

11200 Hudson Rd, Woodbury, MN 55129

137,811 total square feet

43,565 (32%) square feet R&D + cGMP

2 floors & mezzanine level

33-36+ feet clear height

100% occupancy

14+ years remaining lease term

2.5% annual rent increases

$10+ million tenant investment

Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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