Our History

Oct 2001 – First Acquisition: Four Seasons Office Building

Jul 2002 – Josh Krsnak joins Hempel as the first employee

Oct 2002 – Purchased Sheraton Office Building

Jun 2004 – First disposition: Sheraton Office Building

Aug 2004 – Purchased River Park Lofts, the 8-story warehouse which was later redeveloped into 120 residential condos

Aug 2005 – Broke ground on Maple Ridge, Hempel’s first ground-up construction project

Jan 2006 – Hempel moved headquarters to Maple Ridge Center in Maple Grove, Minnesota

Sep 2006 – Josh Krsnak purchases minority interest in Hempel

Oct 2006 – Acquired UBS Plaza in downtown Saint Paul, Minnesota

Nov 2006 – Acquired Midland Bank Building in downtown Minneapolis

Feb 2007 – Acquired One Corporate Center I & III in Edina, Minnesota

Sep 2007 – Groundbreaking on The Hotel Minneapolis, converting the 100-year-old Midland Bank Building into a 222 room hotel

Aug 2008 – Purchased Rand Tower in downtown Minneapolis

Mar 2009 – Hempel moved its headquarters to The Rand Tower in downtown Minneapolis

Jan 2011 – Purchased Soo Line Building, a distressed asset in downtown Minneapolis, then emptied the building to allow an apartment developer to acquire and redevelop the property

Aug 2011 – Purchased One Financial Plaza and secured Canadian Pacific Rail as the anchor tenant

Oct 2011 – Sold Soo Line Building

May 2012 – Sold UBS Plaza

Aug 2012 – Josh Krsnak becomes President and CEO of Hempel

Nov 2012 – NorthStar Transloading Land Assembly

Oct 2013 – Sold One Financial Plaza, which became Canadian Pacific Plaza due to its anchor tenant which Hempel placed

Dec 2013 – NorthStar Transloading Groundbreaking

Feb 2014 – Purchased Cobblestone Lake I, II, & III

Jul 2014 – Purchased Quadrant Office Building in Minneapolis

Jul 2014 – Sold Rand Tower

Dec 2014 – Purchased Albertville Crossings

Nov 2015 – Sold Canadian Pacific Plaza

Dec 2015 – Acquisition of Ryan Retail / Land Portfolio, retail sites named Cedar Point in Richfield, MN and The Grove Village in Maple Grove, MN

Dec 2015 – Acquisition of The Shops of Grand Avenue in Milwaukee, Wisconsin

Feb 2016 – Purchased 811 LaSalle in downtown Minneapolis

Mar 2016 – Joint venture formed with the Saint Paul Port Authority, who purchased Treasure Island Center and brought Hempel on as developer, property manager, leasing agent, and construction manager

Dec 2016 – Josh Krsnak purchases Hempel from shareholders and becomes the sole owner of the organization

Jun 2017 – Purchased the Thrivent Financial Lot in downtown Minneapolis, later developed into parking and housing

Feb 2018 – Sold Albertville Crossings

Apr 2018 – Jon Hempel passed away after courageously fighting a three-year battle with brain cancer

Apr 2019 – Purchased One Corporate Center II, previously the headquarters of International Dairy Queen

Sep 2019 – Hempel sells Quadrant Office Building, completing a five-year project in which Hempel transformed the property from 40% leased in 2014 to 100% leased and stabilized at the time of the sale

Oct 2019 – Hempel purchases Majestic Loft Apartments in Milwaukee, WI

Nov 2019 – Hempel purchases Milwaukee Journal Sentinel parking lot in Milwaukee, WI

Nov 2019 – Hempel purchases Birch Lake Square, a retail property in White Bear Lake, MN

Dec 2019 – Hempel purchases former Aaron Carlson Corporation buildings

Dec 2019 – Hempel purchases Crosstown Preserve, a 181,000 square foot Class A office property in Eden Prairie, MN

Jan 2020 – Hempel purchases Medville Retail Portfolio, a grouping of three retail properties in Albertville and Medina

Jan 2020 – Hempel purchases 235 South 2nd Street in Milwaukee, WI

Feb 2020 – Hempel purchases site at the intersection of I-394 and US-169 in St. Louis Park

Aug 2020 – Hempel sells site at the intersection of I-394 and US-169 in St. Louis Park

Oct 2020 – Hempel sells 235 South 2nd Street in Milwaukee, WI

Dec 2020 – Hempel sells Cobblestone Lakes Retail in Apple Valley, MN

Dec 2020 – Hempel sells single tenant building occupied by Caribou Coffee in Maple Grove, MN

Jan 2021 – Hempel purchases single-tenant Red Robin location and excess land in Shoreview, MN

May 2021 – Hempel purchases 71,000 sf former ShopKo retail property in Hutchinson, MN

Better Properties. Exceptional Management. Strategic Investments.

Minneapolis, Minnesota