Wakeel Rahman Of NorthPoint Development Acquires Two Warehouses In Eagan For $27M

NorthPoint Development acquired two industrial warehouses located at 2945 and 2985 Commers Drive in Eagan, MN, for a total price of $27,000,000. The properties encompass 204,382 square feet, with a price per square foot of $132.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $27,000,000
• Buyer: Wakeel Rahman - NorthPoint Development
• Seller: Hempel Real Estate
• Square Footage: 204,382
• Price Per Square Foot: $132
• Date of Transaction: 08/11/2026
• Market: Eagan, MN

This transaction marks a significant expansion for NorthPoint Development, increasing their Twin Cities industrial portfolio to approximately 1.16 million square feet. Notably, the properties sold for 50% more than the price Hempel Real Estate paid just 10 months earlier.