Maple Grove, MN – Tuesday, March 31, 2009 — Hempel Properties moved to Rand Tower at the corner of 6th Street and Marquette Avenue in downtown Minneapolis. Hempel now occupies 5,500 square feet in the 194,316 square foot tower and secured an additional 3,400 square feet for future expansion.
Hempel acquired the property in September 2008 with JV Partner Alex. Brown Realty, Inc., a Baltimore based national real estate investment firm. Hempel’s move to Rand was planned at the time of the acquisition of the tower. The move to Rand brings the firm closer to three of its properties in downtown Minneapolis including The Rand Tower, The Soo Line Building, and The Hotel Minneapolis. According to Jon Hempel, “We’ve been looking forward to moving to Minneapolis. The Rand Tower is a centralized location with great energy. Having our entire team there will bring synergy to our other projects downtown.”
The Rand Tower is listed on the National Register of Historical Properties. It was developed in 1929 by Rufus Rand and began construction at the height of the roaring twenties and the machine age. The art-deco style is distinctive and brings tremendous character to the space. Also the smaller floor plates allow for abundant windows meaning more natural light and greater skyline views.
Hempel’s new address is:
The Rand Tower, 527 Marquette Avenue, Suite 500
Minneapolis, MN 55402
About Hempel Properties:
Hempel Properties is a Minneapolis/St.Paul- based developer of retail, hospitality, office, multi-family and industrial properties nationwide. They are recognized for their responsive and proactive approach to development partnerships which result in timely and innovative real estate solutions.