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HomeMy WebLinkAboutV.A - Gaughan UpdateSpiral Boulevard Industrial Property September 2025 Marketing Update Prepared by: Timothy Gaughan & Lucas Gaughan Gaughan Companies - Brokerage Division Introduction This document is a supplemental, formal update for the month of September 2025. It accompanies our ongoing correspondence and is intended to provide the City of Hastings with a clear, concise record of what has been completed, what is active, and what is planned next to drive results for the Spiral Boulevard Industrial Property. Executive Summary During September, we expanded visibility at the local and national level, most notably through exposure at a NAIOP event, continued weekly broker and developer outreach, and direct engagement with senior corporate real estate leaders across logistics and industrial development. Timothy Gaughan began working with architect Kathy Anderson to develop site plans that will strengthen our marketing package for build-to-suit users. Our near-term focus is to convert active conversations into site tours and formal proposals while maintaining consistent market coverage. Overview Our team continues to spread the word about the property at every opportunity. We are monitoring leads and activity generated through MNCAR broker blasts, and we maintain directly targeted outreach to developers, industrial users, and brokers. The NAIOP event provided meaningful conversations with industrial users and architects and helped broaden awareness of the site. Key Engagements and Outreach We broadened direct contact with top decision-makers across logistics, industrial development, and corporate real estate. Recent outreach includes the following organizations and individuals: • Pat Esquino - Senior Manager of Real Estate, FedEx Ground • Rad "Radford" Heroman - Director of Corporate Real Estate Midwest, UPS • Sam Blatt - Senior Manager, Economic Development Policy, Amazon (Site Selection Liaison) • Stephen (Steve) Hess - Vice President of Real Estate Solutions, DHL Supply Chain (North America) • Matt Yang - Director of Real Estate Solutions, DHL Supply Chain (3PL) • Tim Elam - Managing Director (Corporate Services Accounts), Scannell Properties • Tom McCary - Director of Development, Scannell Properties • Jim Schlundt - Regional Director - Minneapolis/Detroit/Cincinnati, First Industrial Realty Trust (REIT) • Kris Thorn - Senior Development Manager, Panattoni Development Co. • Sean Olvany - Vice President and Market Officer - Chicago, Prologis (REIT) • Laurie Mahowald - Vice President of Real Estate, Target Corporation Spiral Boulevard Industrial Property September 2025 Marketing Update Prepared by: Timothy Gaughan & Lucas Gaughan Gaughan Companies - Brokerage Division • Jeff Thornton - Executive Vice President, Head of Central Region, CenterPoint Properties • Donald Schoenheider - Executive Vice President, Hillwood • Tim Bauer - Director of Project Development - Industrial, Ryan Companies • Mark Militzer - Regional Vice President, NorthPoint Development Active Conversations • 125,000 SF build-to-suit prospect (via Rob Brass): discussions continue with a user seeking a large facility and open to build-to-suit. • Frozen pizza distributor (via Transwestern): awaiting response regarding an immediate need for 10,000 to 30,000 SF. • Trucking terminal user (via Savills): in contact with Elijah at Savills regarding a user seeking 5+ acres. • Union contractor client: new representation with a purchase need for 20,000 SF; evaluating build-to-suit viability. Ongoing Marketing • Weekly broker blasts to our network remain in effect. • Developer-network campaigns continue on a periodic basis. • In-person exposure at industry meetings and events, including NAIOP. Next Steps • Advance site plan work with architect Kathy Anderson to create clear, market-ready concept plans and data sheets. • Continue direct outreach to industrial users and developers, with emphasis on build- to-suit requirements. • Pursue active prospects identified via Transwestern, Savills, and internal client representation and schedule follow-up meetings and site tours. • Maintain weekly broker blasts and increase one-to-one follow-up with corporate users and developers to drive traction. • Target near-term wins for momentum into late 2025 and early 2026, including LOI activity where appropriate. Market Sentiment Developers remain selective following the construction surge in 2022 and 2023. That said, speculative interest continues to grow, and shovel-ready sites of this size are scarce. By sustaining exposure and deepening relationships now, Spiral Boulevard is positioned to capture interest as activity strengthens into late 2025. Conclusion September activity broadened awareness, strengthened our pipeline, and advanced the Spiral Boulevard Industrial Property September 2025 Marketing Update Prepared by: Timothy Gaughan & Lucas Gaughan Gaughan Companies - Brokerage Division Conclusion (cont.) marketing package through new site planning work. We will continue to report monthly with updates on outreach outcomes, site plan progress, and prospect movement toward proposals and commitments.