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Hempel Secures 34,000 sf at OCC I and III

MAPLE GROVE, MN-The building owner has renewed existing leases and signed new ones to bring the combined properties up to around 80% occupied.

By Cari Brokamp | Updated on October 29, 2008

MAPLE GROVE, MN-Hempel Properties has signed approximately 34,000 sf in leases for two of its buildings, One Corporate Center I and III, on Highway 100, just north of Interstate 494. The leases signed represent about 24,000 sf in existing tenant renewals, while another 10,000 sf consist of new tenants. The leases bring the buildings to about 80% occupied combined.

“Despite the slowdown in the economy, we’ve had good activity negotiating other leases right now in the 2,000 to 7,000 sf range,” says Brent Jacobson, vice president of leasing at Hempel. “Locationally, this is a really good submarket in the highly desirable Twin Cities area. It’s easy to get to, right off Highway 100.”

New tenants to lease space in the buildings include: CRM software consulting firm Axonom, which took 6,400 sf; accounting and finance executive placement firm Venator, which will occupy 2,200 sf; and enterprise solutions provider iBusiness, which will move into 2,200 sf. Asking lease rates in the buildings are around $12 per sf, net, Jacobson says.

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