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Hempel Real Estate And TPG Angelo Gordon Acquire Lone Oak Distribution Center For $18M In Eagan
SOLD
$18,000,000
Minnesota
See Similar DealsIndustrial
Sold 10/14/2025
SOLD
Hempel Real Estate And TPG Angelo Gordon Acquire Lone Oak Distribution Center For $18M In Eagan
2945 Commers Drive
See Similar DealsIndustrial
Sold 10/14/2025
Summary
MINNESOTA
Asset Type:Industrial
Transaction Type:Sale
The transaction involved the acquisition of the Lone Oak Distribution Center I and II located at 2945 and 2985 Commers Drive, Eagan, MN. The total sale price was $18,000,000. This industrial asset was sold by the Commers Family Trust.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18,000,000
- Buyer: Hempel Real Estate & TPG Angelo Gordon
- Seller: Commers Family Trust
- Brokers: Tim Olsen, Tim Olsen - Carlson Partners, Ted Carlson & Ted Carlson
Hempel Real Estate, in conjunction with TPG Angelo Gordon, is set to implement modernization upgrades at the property. Additionally, a full-building lease at Center II has been secured with Buske Lines Inc., indicating planned operational developments post-acquisition.
Players
BUYER
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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