Forte Represents Interstate Companies, Inc. with the Acquisition of a 44,000 SF Office Building for its New Headquarters
- Long-term history with the property
- Real estate advisory services
- Locate possible options for new corporate headquarters
- Assist in purchase of property
- Renovations of space
- Corporate consolidation of employees
A 44,000 sq. ft., Class B, two-story office building has had a long history with the Forte team of Fred Hedberg, SIOR and Phil Simonet. Located in the Eagandale Business Park at 1340 Corporate Center Drive, Eagan, the property had been on the market for a substantial amount of time with space for lease. At the time the Buyer and Forte approached the property, it was not on the market for sale but was considered a potential off-market opportunity given the right buyer.
The team’s history with the building goes back to 1996, when Fred Hedberg worked with Mycogyn Seeds to identify a location for an office headquarters. They identified 1340 Corporate Center Drive for the location, enlisting The Opus Group for the build-to-suit. It was Mycogyn Seeds’ headquarters until the company was sold to Dow Chemical in 2001. Hedberg and Simonet represented Dow Chemical and sold the property to Electronics for Imaging Inc., (“EFI”). EFI renovated it in 2002 and sold it to Shree Eagan, LLC a local CRE investor, in 2020.
Interstate paid $3.7 million, which equates to $84.25 per square foot, for the property on 5.58 acres of land.
Learn more about the Twin Cities Office Market.
Real Estate Advisory
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