Commercial Exterior Painting for The Waters Business...

Exterior Building Revitalization

Transforming The Waters Business Center

In 2022, Hyde Development acquired The Waters Business Center, a six-building, 325,947-square-foot industrial flex park that was in need of renovation. With a bold vision to reposition the 20-year-old complex as a desirable commercial space in a tightening market, the ownership team partnered with Fresh Paint, Inc. to lead the revitalization of the property’s exterior image. The result: a stunning transformation that helped boost occupancy from 83% to 91%, increased average rents per square foot, and added over $13 million in estimated value.

Client: Hyde Development
Location: Eagan, Minnesota
Industry: Commercial Real Estate & Industrial Business Parks
Scope: Exterior Building Revitalization
Contractor: Fresh Paint, Inc.

Challenges

Outdated Appearance: The buildings’ dated facade and neglected surfaces diminished the property’s curb appeal and brand perception.
Strict City Ordinances: Eagan City ordinance prohibits painting previously unpainted buildings.
Market Pressure: The flex industrial space faced strong headwinds due to rising interest rates and underutilized office finishes.
Tenant Retention: Seven leases were set to expire within the first year of ownership—tenant confidence in the park’s future needed to be rebuilt quickly.

Objectives

Modernize the exterior look and feel to attract high-quality tenants and increase market competitiveness.
Reestablish pride of place among existing tenants and elevate the perceived value of the business park.
Support the park’s rebranding through physical upgrades that reinforce the new identity and narrative.

Customer Highlight Hyde Development

“Working with Fresh Paint on this complex exterior painting project was a fantastic experience. Their team was professional, communicative, and consistently courteous to our tenants throughout the process. They delivered the project on time, on budget, and with exceptional quality. We couldn’t be more pleased with the results and would gladly work with them again!”

Mike Wardwell

Development Executive, Hyde Development

Scope of Work

Fresh Paint was selected for its reputation in transforming large-scale commercial and industrial assets with an attention to detail that goes beyond aesthetics. Our comprehensive exterior refresh included:

Facade & Masonry Painting

Painting split-face block on all four sides of each building
Staining accent masonry lines (light block areas only)
Prepping and painting exterior front facades

Upgraded Coating System

Applied upgraded LOXON XP coating system for superior weather resistance, durability, and long-term color retention.

Surface Preparation & Repairs

Power-washing of all building surfaces
Miscellaneous caulking on expansion joints and cracks

Architectural Detail Work

Painting entrance ceilings, lintels, and hollow metal service doors/frames
Prepping and painting additional windows and structural lintels
Painting trash enclosure doors and metal frames

Steel & Signage Components

Prepping and painting steel staircases
Prepping and painting the pylon sign base, including caulking
Applying protection for signage and lettering during work
Providing access equipment as needed

Fresh Ideas & Collaboration Overcomes Challenges

This project posed a unique challenge due to a city ordinance in Eagan that prohibits painting previously unpainted buildings. To address this, Fresh Paint collaborated with Sherwin-Williams, Hyde, and the project architect to develop a compliant solution. Together, they proposed using an exterior masonry stain, which penetrates the surface and becomes an integral part of the block, rather than sitting on top like traditional paint. After reviewing the approach with both the city and the architect, the city approved the use of the stain, allowing Fresh Paint to move forward with the project.