Hempel Real Estate And TPG Angelo Gordon Acquire Lone Oak Distribution Center For $18M In Eagan

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.