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Bogey Free Properties LLC Acquires Office Property In Eagan From Capital Partners For $11.175M

Property Image
SOLD
$11,175,000

Minnesota

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Office91,595 SF
Sold 04/03/2025
the dealdetailscomps
Property Image
SOLD

Bogey Free Properties LLC Acquires Office Property In Eagan From Capital Partners For $11.175M

2900 Lone Oak Parkway

See Similar Deals
Office91,595 SF
Sold 04/03/2025
the dealdetailscomps

Summary

MINNESOTA
Asset Type:Office
Price Per Square Foot:$122
Total Square Footage:91,595 SF
Transaction Type:Sale

The property asset involved in the transaction is an office-showroom located at 2900 Lone Oak Parkway, Eagan, MN. This asset, known as The Waters, encompasses a total area of 91,595 square feet and was sold for $11,175,000. The property, built in 1987, is currently 90% leased, indicating a degree of occupancy that may appeal to potential stakeholders. It previously exchanged ownership for $5.885 million in 2016.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $11,175,000
  • Buyer: Bogey Free Properties LLC
  • Seller: Peter Mork - Capital Partners
  • Square Footage: 91,595
  • Price per Square Foot: $122
  • Market: Eagan, MN
  • Leasing Status: 90% leased
  • Previous Sale Price: $5,885,000 (2016)

The buyer, Bogey Free Properties LLC, and the seller, Peter Mork of Capital Partners, were pivotal to this transaction. With the acquisition, Bogey Free Properties LLC adds a significant asset to its portfolio, reflecting a strategic investment in a well-leased property in a growing market.

Players

Capital Partners
Capital Partners
SELLER

Details

SOLD
IMAGE: 04/03/2025 ADDRESS: 2900 Lone Oak Parkway MARKET: Eagan, MN ASSET TYPE: Office BUYER: Bogey Free Properties LLC SELLER: Peter Mork - Capital Partners SALE PRICE: $11,175,000 SF: 91,595 ~ PPSF: $122 NOTE: Bogey Free Properties LLC acquired The Waters, a 91,595-square-foot office-showroom property in Eagan, for $11.175 million from Capital Partners. The 1987-built asset is 90% leased and previously sold for $5.885 million in 2016.

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

$595,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,702.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,975.20
Annual Debt Service$635,702.41