Knapp and O’Brien lead multi-market team in one of the largest trophy office sales in Minnesota history.
MINNEAPOLIS, July 11, 2022 – Cushman & Wakefield announced today that the firm has arranged the sale of Normandale Lake Office Park, a five-building, 1.7 million-square-foot institutional-quality development in Bloomington, Minnesota.
A multi-market team consisting of David Knapp and Jeremiah Olsen in Chicago; Tom O’Brien, Avery Ticer, Sam Maguire and Dan Phoel in Minneapolis; and Adam Spies in New York represented MetLife Investment Management and Allstate in the sale to private real estate investor Opal Holdings.
Located at the intersection of Interstate 494 and Highway 100, Normandale Lake Office Park’s five inter-connected buildings include the 8000 Tower, a 12-story office building totaling 242,598 square feet; the 8200 Tower, which is 11 stories and 277,481 square feet; the 8300 Tower, a 13-story structure with 285,753 square feet; the 8400 Tower, a 17-story, 399,855-square-foot office building and the 8500 Tower, which offers 467,016 square feet in a 24-story tower. The Class A suburban office development was built between 1983 and 2009 and is currently 91% leased to tenants including Aon Benfield Global, Towers Watson, Schwan’s Consumer Brands and Dairy Queen.
“Normandale Lake Office Park is a landmark, market-leading Twin Cities development that is highly regarded for its unique, urban-like ecosystem and access to the region’s top labor pools, prominent suburbs and an unmatched amenity base, both within and surrounding the property,” Knapp said. “Over its history, Normandale Lake has thrived amidst most any macro-economic environment, primarily because it offers tenants a workplace centered on community and connectivity in an unsurpassed location.” Access this link to download a high-res image of Normandale Lake Office Park.