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Hempel Real Estate & TPG Angelo Gordon Acquire Industrial Site In Corcoran MN For $8.9M

Property Image
SOLD
$8,900,000

Minnesota

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Industrial286,120 SF
Sold 06/27/2025
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SOLD

Hempel Real Estate & TPG Angelo Gordon Acquire Industrial Site In Corcoran MN For $8.9M

10585 Brockton Lane North

See Similar Deals
Industrial286,120 SF
Sold 06/27/2025
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$31
Total Square Footage:286,120 SF
Transaction Type:Sale

The property asset involved in the transaction is an industrial facility located at 10585 Brockton Lane North in Corcoran, MN. The asset consists of approximately 286,120 square feet and was sold for $8,900,000, resulting in a price per square foot of $31.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $8,900,000
  • Address: 10585 Brockton Lane North
  • Market: Corcoran, MN
  • Square Footage: 286,120
  • Price Per Square Foot: $31
  • Buyer: Hempel Real Estate & TPG Angelo Gordon
  • Broker: Judd Welliver - CBRE

The transaction involved Hempel Real Estate and TPG Angelo Gordon acquiring the asset to initiate the first phase of Brockton Business Park. This site is a key component of their $300 million industrial development initiative across the Midwest.

Players

Judd Welliver
CBRE
Judd Welliver
27 deals$1.8B volume
BROKER
CBRE
CBRE
BROKERAGE
HE
Hempel Real Estate
BUYER
TPG Angelo Gordon
TPG Angelo Gordon
BUYER

Details

SOLD
IMAGE: 06/27/2025 ADDRESS: 10585 Brockton Lane North MARKET: Corcoran, MN ASSET TYPE: Industrial BUYER: Hempel Real Estate & TPG Angelo Gordon BROKER: Judd Welliver - CBRE SALE PRICE: $8,900,000 SF: 286,120 ~ PPSF: $31 NOTE: Hempel Real Estate and TPG Angelo Gordon acquired 20 acres in Corcoran, MN, for $8.9 million to launch the first phase of Brockton Business Park. The site will anchor their $300 million industrial development initiative across the Midwest.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$474,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49