Grand Oak Business Park, Eagan, MN
EAGAN, MN—JLL Capital Markets arranged a $52.5 million loan to finance the acquisition of Grand Oak Business Park, a 10-building, class A business park in Eagan, MN. The group worked on behalf of Group RMC to place the loan with Morgan Stanley.
Adam Schwartz, Aaron Appel, Keith Kurland, Jonathan Schwartz, Matt Collins and Patrick Heitmann of Jones Lang LaSalle led the team handling the debt assignment.
“Grand Oak Business Park is the premier office park in the Southeast submarket,” says Adam Schwartz. “The park provides a highly desirable location for businesses looking to access the nearby metro area and offers employees convenient access to highly sought-after amenities.”
Grand Oak Business Park occupies 83.5 acres of land and includes eight office buildings and two retail properties totaling 550,224 square feet of space. The buildings were constructed between 1999 and 2007 and offer a variety of high-quality class A office finishes and creative open floorplan concepts.
The property is approximately 92%-occupied, with a strong mix of regional and multinational tenants. The business park also features an above-market parking ratio, extensive grass lines, a recreational lakeside trail, outdoor grilling amenity areas and a practice putting green.
Grand Oak Business Park surrounds O'Neill Lake and is just minutes from downtown Minneapolis/St. Paul. It features prime freeway access and is located between I-35E, I-494, and Highways 55 and 149.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
