May 26, 2022

Hyde Development Builds Community in Industrial Spaces

May 26, 2022

Pursuing an innovative strategy to commercial real estate and industrial development, Hyde Development incorporates placemaking to create community in the workplace.

Paul and Mac Hyde, co-founders of Hyde Development, started their business to cultivate a local feel in industrial spaces in Minnesota, Colorado, and North Dakota and the company continues with this mission to this day.

Community starts at home

It started in a sandbox, where imagination often begins. As a young child, Paul was drawn to playing with toy trucks — loaders, excavators, dump trucks, and replicas of all the equipment found at a construction site. Because Paul loved these toys so much, Mac Hyde built a sandbox for his son in the yard. It was a space where Paul could explore and create. The irony should not be lost on the fact that this was no ordinary sandbox with the approximate size of 75 square feet; a foreshadowing to the immense industrial sites that Paul and his father would build upon many years in the future.

The history of the Hyde family

Paul Hyde pursued many jobs and educational endeavors that helped develop his expertise. From mowing lawns to a liberal arts education and ultimately law school, a broad variety of experiences provided Paul with a toolkit that would lend itself to success for Hyde Development years later.

His first jobs as a teenager often involved manual labor; experiences that left him with a better understanding of that intensive work. The value of a hard day’s labor did not go unnoticed by Paul.

His educational background comprises history, anthropology, law, and banking. Paul Hyde credits his diverse education to his success in the commercial real estate and industrial development business as it lends itself to collaboration and personalization when building a community.

Paul remarks on some of his background, “Well, my degree has absolutely nothing to do with commercial real estate and the math and the mechanics of it. I think it has everything to do with understanding people, communities, and culture and developing an ability to listen and empathize with others that I found it so vital in terms of how we relate to our communities that we’re active in, to our tenants, and to our stakeholders.”

With all of that on his resume, he was then exposed to the real estate business when he ventured to Newport, Rhode Island with his friends after graduation. He started dating a woman and her dad was a real estate developer. That connection he made and his new-found interest in real estate led to the trajectory of the Hyde family business.

There are many moving parts when working in commercial real estate and Paul’s experience made him well-equipped for the business. His background in manual labor, law, banking, and real estate blend perfectly to achieve success in the world of commercial real estate and industrial development.

With over 50 years of environmental law experience under his belt, Mac Hyde co-founded Real Estate Recycling alongside his son in 1995. The business began right out of the basement of the Hyde household. It sought to thrive in the upcoming industry of the redevelopment of brownfield sites. The goal was to add value to the surrounding community by reconstructing the polluted sites into industrial space where businesses could flourish. This business plan was innovative in that, previously, developers would be reluctant to pursue these polluted sites due to liability issues. States started providing liability protection for developers to clean up these sites and the company saw the opportunity. However, they did not stop there. Their plan, unlike many others at that time, was not only to clean up the sites, but to develop, own, and manage them.

Paving the way for an industrial community

With ups and downs in the economy throughout 1995 to 2012, Real Estate Recycling still found successes. And as past history has shown, the Hyde family does not pass up on new opportunities and expanded their business model to include infill sites. The family-owned commercial real estate company transitioned into what is now known as Hyde Development in 2012. Their innovative, holistic approach to commercial real estate made them stand out in the industry. Now, in 2022, they have built 5.4 million square feet of industrial space in Minnesota, Colorado, and North Dakota.

As a family-owned enterprise, Hyde Development prioritizes a personalized approach to the business environment and infuses a sense of community within the industrial spaces it develops. It is really what ties the company together.

As Paul Hyde states, “The key to success is by creating a good outcome for everyone through collaboration with others, listening, and solving the problem together.”

Hyde Development is a one-stop shop in building industrial spaces and business parks, helping build the spaces from start to finish. The first step is finding the perfect space. Using a methodical approach, they always find the best options for their clients. Next is working with the banks and brokers, both of which Hyde Development has built valuable relationships. Lastly, the relationship does not end when the construction does. In true Hyde family fashion, a long-standing connection is built.

Business parks with a local feel

Paul and Mac Hyde’s commercial real estate company creates industrial communities where people feel valued. Their mission is to build business parks where mental health is encouraged while also invoking a local community atmosphere. They have developed these sustainable and welcoming environments in hopes to retain employees.

One of Hyde Development’s largest industrial spaces is 76 Commerce Center in Colorado. Not only does the 1.8 million square foot property have convenient access to all of Denver’s most popular locations, but it has amenities that create the desired neighborhood atmosphere. Walking trails, a food truck court, and activities areas on the campus fosters the work-life balance Hyde Development aims to achieve at every site.

The Northern Stacks Project in Minneapolis, MN is another business park worth mentioning. The 1.7 million square foot location seamlessly blends sustainability with the beauty of the city. It offers trails, food truck sites, and a brewery to connect with the community that Hyde Development strives to produce.

Hyde Development is leading in this progressive commercial real estate industry, incorporating placemaking in the workplace. The many awards they have received over the years is proof. Awards that Hyde Development has received include, but are not limited to, NAIOP (National Association of Industry and Office Properties) Awards of Excellence, Business Journal Best in Real Estate Awards, Finance and Commerce Top Projects, MN Brownfields ReScape Awards, and EDAM (Economic Development Association of Minnesota) Awards.

Since Mac’s passing in 2013, Paul, alongside the passionate Hyde Development team, is continuing the legacy of this small, family-owned company with large goals in the world of industrial and community development, and is knocking it out of the (business) park.

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250 Nicollet Mall
Suite 920
Minneapolis MN 55401

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