Making lives better by making buildings better.
We provide more than just commercial real estate services: we breathe new life into properties.
HEMPEL acquires, develops, and redevelops commercial real estate throughout the Midwest. Our expertise in turnaround projects adds value for tenants, neighborhoods, and cities.
What we do
Hempel is a commercial real estate firm based in the Midwest. We have experience on every level of a real estate transaction, and we specialize in new and adaptive re-use projects.
Since 2001, Hempel has acquired and developed more than $1 billion worth of office, retail, multi-family residential, hospitality, and parking.
We think full buildings are better than empty ones. Our experienced brokers know how to get the deal done.
Who we are
We are a team of innovative problem-solvers with experience on every level of commercial real estate.
Strategic partnerships are the cornerstone of Hempel’s development and investment success.
Hempel has a solid track record of acquiring and developing commercial real estate. We also act as asset and property managers on all of our properties.
Trusted, innovative, effective – all foundational qualities to Hempel’s success and at the heart of every transaction.
Coming soon to Treasure Island Center: St. Paul Event Center, Pillbox Tavern and Red’s Savoy Pizza
Feb 17, 2020 - by Frederick Melo, Pioneer Press - . . . Within a once-storied business corridor now short on retail options, bringing vitality back downtown has been a slow but important climb for Treasure Island Center. “We’ve got something for everyone, from hockey to pizza,” said Andrea Novak, a vice president of marketing and public relations for the Port Authority. “Obviously, things took a little longer than we anticipated. But 2020 is going to be another big year. … When you see three different tenants who are all doing build-outs at the same time, that’s a big deal. They all fit so well.”
Brewers stars Ryan Braun, Christian Yelich team up to give back to their L.A. and Milwaukee communities
Jan 7, 2020 - by Bob Nightengale, USA Today - . . . Brewers stars Ryan Braun and Christian Yelich happen to live in Malibu, California, work in Milwaukee, and are not only investing into their two communities with their checkbooks, but much more precious, their heart and commitment . . . . When the two former National League MVPs attend the Brewers On Deck Fan Fest in Milwaukee, they’ll stop by The Avenue project on the west side of downtown. This is where they invested money, time, and their hearts into helping renovate and develop a desolated three-block urban mall into offices, apartments and an 40,000-square foot food hall with 24 vendors.
With an eye to changes from the SW Light Rail, Hempel Real Estate buys Golden Triangle properties
Jan 3, 2020 - By Eden Teller, SW News Media - A regional real estate firm bought a 180,000 square foot property in Eden Prairie's Golden Triangle in late December and plans to develop the area in anticipation of changes brought by the Southwest Light Rail Transit line, according to the company's vice president. Hempel Real Estate, which owns and operates office and retail property in Minnesota and Milwaukee, finalized its purchase of the Crosstown Preserve office building at 10050 Crosstown Circle on Dec. 18, Hempel's vice president Ben Krsnak told Eden Prairie News. Hempel also bought the site of a closed restaurant at 11528 Leona Road and a parking lot, which are adjacent to the Crosstown Preserve building, a news release from Hempel says.
Graef opens new headquarters office in The Avenue in Milwaukee
Dec 30, 2019 by Sean Ryan, Milwaukee Business Journal - About 175 Graef workers who packed their stuff into bankers boxes before the holiday break spent Monday morning settling into a new headquarters office in the top floor of The Avenue in downtown Milwaukee. The move opens a new chapter for the engineering firm and for the former Shops of Grand Avenue. Graef is the first new tenant to move into the former West Wisconsin Avenue mall’s west arcade, which is being converted into offices and a first-floor food hall.
Hempel bets on Eden Prairie office building once used by Best Buy
Dec 30, 2019 by Nick Halter, Minneapolis/St. Paul Business Journal - A joint venture led by Hempel Properties. has purchased a 181,000-square-foot office building near the intersection of highways 62 and 169 in Eden Prairie. The building, formerly known as the Crosstown Center, was developed in 1999 and was a Best Buy Co. Inc. data center before the retailer moved all of its Eden Prairie operations into its current Richfield complex.
Hempel to renovate NE Minneapolis factory
December 18, 2019 by Matt Johnson, Finance and Commerce - Hempel Cos. is taking a step into the past with new project that will convert a millwork and furniture factory in northeast Minneapolis into multi-use commercial space. Minneapolis-based Hempel is no stranger to modifying old buildings to new purposes. The developer completed work in 2017 that converted a 1960s-era, former downtown St. Paul Macy’s store into the 212,590-square foot Treasure Island Center. But Hempel’s newest project will take the company even further into the past.
Grand Avenue owners buying nearby properties, attracting more office tenants
November 11, 2019 by Sean Ryan, Milwaukee Business Journal - The owners of the former Shops of Grand Avenue in Milwaukee are finalizing agreements to bring in more office tenants, while also acquiring more property around the former downtown Milwaukee shopping mall. The mall’s ongoing renovation into The Avenue will be complete in May, said co-owner Josh Krsnak, CEO of Hempel Cos. That includes turning the top two floors of the mall’s western arcade into offices, and creating a food court in its ground floor.
The Avenue taking form, see inside the ongoing construction work: Slideshow
October 9, 2019 by Sean Ryan, Milwaukee Business Journal - The transformation of the former Shops of Grand Avenue in downtown Milwaukee is becoming reality in steel and concrete as its interior begins to look like the future modern offices and food hall it will become. See the attached slideshow for a tour through the West Wisconsin Avenue mall’s former west arcade, where builders are busy at work on the $53 million redevelopment to create The Avenue.