A private investor acquired the Lake West office building at 14525 Hwy 7 in Minnetonka, MN from Hempel for $2.75 million, or approximately $46 per square foot.
The three-story, 59,844-square-foot building was delivered in 1980 and renovated in 2006. It sits on 3.5 acres in the I-394 Corridor of Hennepin County.
This transaction was part of a 1031 exchange. The seller divested the property to focus on other investment opportunities.
Brent…
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