Making lives better by making buildings better.

We provide more than just commercial real estate services: we breathe new life into properties.

Creating value.

Transforming communities.

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.

Invest

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.

Leasing

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.

Our Properties

Since 2001, Hempel has acquired and developed more than $1 billion worth of office, retail, multi-family, residential, and parking assets.

Better strategies.

Better buildings.

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.

OUR INVESTMENT STRATEGY

CASE STUDY:

Canadian Pacific Plaza

A recapitalization project in downtown Minneapolis transformed an entire city block.

ACQUIRED 2011

$23.6 M

48% OCCUPANCY

SOLD 2015

$68.5 M

98% OCCUPANCY

Recent News

3rd Street Market Hall opens to the public Friday

January 13, 2022 - MILWAUKEE, WI 3rd Street Market Hall will finally open its doors to the public this Friday, Jan. 14.

The opening of the food hall, announced Wednesday over social media, comes after months of delay due to the COVID-19 pandemic and recent supply chain disruption. Downtown Milwaukee’s newest food attraction is located on the ground floor of The Avenue development at the former Grand Avenue Mall on West Wisconsin Avenue.

3rd Street Market Hall features a 50-seat central bar and entertainment amenities including Top Golf Swing Suites, shuffleboard courts, snookball, Photoverse selfie museum (a creation of the Milwaukee Institute of Art & Design), old-school arcade games, and a turf area with yard games and seating. It will eventually house 19 food and retail businesses.

3rd Street Market Hall sets opening date

January 12, 2022 - MILWAUKEE, WI — Operators of the food hall in the former Shops of Grand Avenue announced the news in a tweet Wednesday.

3rd Street Market Hall opens Friday in downtown Milwaukee

January 12, 2022 - MILWAUKEE, WI — The long-delayed 3rd Street Market Hall in downtown Milwaukee now has a firm opening date: The food hall debuts Friday with food vendors, a full bar and activities. "It's been a long road," said restaurateur Omar Shaikh, a primary owner along with real estate developers Joshua Krsnak and Tony Janowiec. "It's quite emotional, but we are very excited to finally open to the public. We want Milwaukee to be proud of the 3rd Street Market Hall." For its opening weekend, the hall will be open 11 a.m. to 9 p.m. Friday and Saturday and 11 a.m. to 7 p.m. Sunday.

Assisted living & memory care development coming to Bellevue in 2022

December 10, 2021 - GREEN BAY, WI — The village of Bellevue will be welcoming a new assisted living and memory care development facility in 2022. According to Baylands Building Inc., they have partnered with Galahad Development, Hempel Real Estate, and Great Lakes Management (GLM) to start the construction of a new 72-unit assisted living and memory care community that will be located at 1780 Servant Way in Bellevue.

3rd Street Market co-owner on opening date: 'It will be this year, 100 percent'

October 26, 2021 - MILWAUKEE, WI — Inside 3rd Street Market Hall, amid the sounds of construction, Omar Shaikh sits alone at his brand new 360 bar, sending a text message and preparing for a meeting.

He promises it won't be long before other Milwaukeeans are sitting there, too.

"I'm not setting a date. I'm not doing that. I'm not even setting a month. But I'll say here — it will be this year. 100 percent," said Shaikh.

Christian Yelich & Randall Cobb named among investors in 3rd Street Market Hall

October 25, 2021 - MILWAUKEE, WI — As plans for 3rd Street Market Hall continue to move forward, the Market Hall has announced that it will do so with backing from Milwaukee Brewers left fielder and 2018 NL MVP Christian Yelich along with returning Green Bay Packers star wide receiver Randall Cobb, both of whom say that they are happy to join dozens of other local investors in supporting a project that promises to be a catalyst for Downtown Milwaukee.

Hempel Real Estate buys The BLOC Office Building in Bloomington

October 20, 2021 - BLOOMINGTON, MN — Hempel Real Estate purchased The BLOC Office Building in Bloomington, MN for $25 Million. The BLOC is a 154,552 square foot Class A office building located along I-494. The building was constructed in 1985 and recently underwent a $5 million renovation in 2019.

MIAD Gallery Will be Part of Downtown's The Avenue Development.

October 6, 2021 - MILWAUKEE —“A gallery displaying work from Milwaukee Institute of Art and Design students and others will be part of downtown's The Avenue mixed-use development.

Known as MIAD Gallery at The Ave, it will open in November at 301 W. Wisconsin Ave., the college has announced.

The 2,500-square-foot space will be near The Avenue’s main entrance into the development's 3rd Street Market Hall, a food hall which opens Oct. 18.

3rd Street Market Hall targets mid-October opening

August 31, 2021 - MILWAUKEE —“The long-awaited opening of 3rd Street Market Hall in downtown Milwaukee is almost here.

The food hall and entertainment venue, located inside The Avenue development on West Wisconsin Ave., is slated to open to the public on Oct. 18, said co-developer and restaurateur Omar Shaikh, in an interview with BizTimes Milwaukee.

READ MORE

3rd Street Market Hall Opening in October

August 26, 2021 - MILWAUKEE —“The hangout of Downtown” will open in just under two months.

Delayed because of the COVID-19 pandemic, restaurateur Omar Shaikh and real estate developer Josh Krsnak have spent the past year refining the concept for the 3rd Street Market Hall.

“We wanted to create something that is a little more experiential,” said Shaikh during a tour Wednesday. “We want this to appeal to everyone.” The public will get to check it out for the first time on Oct. 18.

Herzing University to move its HQ to The Avenue in downtown Milwaukee

August 23, 2021 - MILWAUKEE —Herzing University will move its headquarters to The Avenue in downtown Milwaukee.

Herzing, a private nonprofit university, will move its administrative offices from Lilly Road in Menomonee Falls to the redeveloped former Grand Avenue mall at 275 W. Wisconsin Ave.

It will occupy almost 22,000 square feet on the second floor, which also includes a private balcony, according to a news release. Herzing will be moved in by the first quarter of next year.

Herzing University to move headquarters, 180 workers to The Avenue downtown

August 23, 2021 - MILWAUKEE —Herzing University plans to move its headquarters operations from Menomonee Falls to office space in the second floor of the former Shops of Grand Avenue in downtown Milwaukee.

Tempo women's business group moving offices to The Avenue this fall

August 2, 2021 - MILWAUKEE —The Avenue redevelopment in downtown Milwaukee picked up its third lease with a local business organization, signing professional women’s group Tempo to move there in early fall.

Downtown Milwaukee's The Avenue lands another office tenant. Tempo, Wisconsin's largest professional women's organization, is moving there

July 31, 2021 - MILWAUKEE —The Avenue has landed another office tenant at the downtown Milwaukee mixed-use development. Tempo, Wisconsin’s largest professional women’s organization, is moving its headquarters to The Avenue, formerly the Grand Avenue mall, 275 W. Wisconsin Ave. Tempo will move into 2,500 square feet on the second floor, the group announced Friday. It will use space now occupied by Hempel Cos., one of The Avenue's developers. The organization left its offices at Schlitz Park in May 2020, with its staff working remotely. Tempo plans to move to its new space by early fall.

3rd Street Market Hall, the food hall coming to The Avenue in September, just got a key $2 million loan for its financing package

June 23, 2021 - MILWAUKEE —The food hall coming to downtown Milwaukee's The Avenue mixed-use development has obtained an important piece of its financing package. 3rd Street Market Hall is receiving a $2 million loan from the Milwaukee Economic Development Corp., a nonprofit business lender affiliated with the City of Milwaukee. That loan will help pay for the buildout of the food hall, which is to open in September at 275 W. Wisconsin Ave.

The Avenue's food hall secures $2 million loan to help chefs build their booths

June 23, 2021 - MILWAUKEE —The owners of the 3rd Street Market Hall secured a $2 million loan from a city of Milwaukee affiliate to help chefs build their future vendor booths in the downtown food hall.

WTMJ-AM owner moving offices, radio stations to The Avenue

June 2, 2021 - MILWAUKEE —Good Karma Brands is moving its offices and about 130 employees to The Avenue redevelopment in downtown Milwaukee, and will have its radio station studios visible from the project’s food hall.

3rd St. Market Hall sign to change Milwaukee Skyline

June 1, 2021 - MILWAUKEE —owntown Milwaukee's skyline is set to change, after 3rd St. Market Hall announced its plans to install a new rooftop sign that's expected to be complete by Thursday.

The massive sign will display 652 feet of LED neon that officials from Sign Art Studio say gives it a retro feel.

New 3rd St. Market Hall sign will be installed and lit this week

June 1, 2021 - MILWAUKEE —The installation of the sign for the new 3rd St. Market Hall is slated to begin sign Tuesday, June 1 and be complete by Thursday, June 3.

The sign – 29 feet tall and 17 feet wide – is made by Mount Horeb's Sign Art Studio and will tower above the glass front of the hall and will rise 81 feet above Wisconsin Avenue.

Dairyland to bring burgers, custard to 3rd Street Market Hall

May 12, 2021 - MILWAUKEE —A burger and custard concept with locations in Oak Creek and Milwaukee will join the 3rd Street Market Hall, the food hall that's part of the redevelopment of the former Shops of Grand Avenue in downtown Milwaukee. Dairyland Old-Fashioned Frozen Custard and Hamburgers signed a license agreement to operate as a vendor at the food hall.

GRAEF - The Avenue Office Renovation: A reincarnation west of the river

April 29, 2021 - MILWAUKEE — Presiding over The Avenue from its third-floor perch is the new headquarters of Milwaukee-based GRAEF USA Inc., a national engineering, planning and design firm founded 60 years ago. The firm occupies 35,000 square feet, providing amenity-rich work space for about 175 employees.

40 Under 40: Courtney Morris, Hempel Real Estate

March 22, 2021 - MILWAUKEE — Courtney Morris has been influential in the lease-up and development of Hempel’s Milwaukee-area projects, also overseeing the property management team. She joined Hempel in 2015 with the acquisition of The Avenue and has made it her passion project. Her role has been instrumental in the $90 million redevelopment project at The Avenue complex in downtown Milwaukee.

The Avenue targets summer opening for food hall, part of total transformation of old mall space

March 16, 2021 - MILWAUKEE — Is this the time it’s finally going to work? Anyone who’s lived in Milwaukee for any length of time knows the decades-long tale of promise and disappointment following the Grand Avenue Mall property. The signature piece of the years-long redevelopment is set to open this summer, and with it, a formula the investors and partners believe will finally be the one that works.

“There’s so much nostalgia for this place. So much early childhood memories,” the current property owner Josh Krsnak began, detailing conversations he has had with long-time Milwaukeeans. He wouldn’t otherwise know. He’s from Minneapolis. “And then there’s almost this like, sadness,” he continues, “…that the building was let go.”

The Avenue's food hall takes new approach to attract vendors, plans summer opening

February 1, 2021 - Restaurateur Omar Shaikh’s businesses may be built around good eats, but he’s excited about the experiences that will be created for The Avenue’s new food hall in downtown Milwaukee.

Activities will include kids running around an indoor turf area or revving up miniature hotrods on a slot racing track, corporations renting out TopGolf simulator suites, visitors sitting on a cushy couch to enjoy a charcuterie board, and children of all ages doing TikTok videos and pics in a selfie museum with a variety of funky backdrops.

WTMJ-AM, other radio stations close to signing lease to relocate to downtown Milwaukee's former Grand Avenue mall

January 27, 2021 -The company that owns WTMJ-AM and other Milwaukee radio stations is close to signing a lease that would move those operations to downtown's former Grand Avenue mall.

Good Karma Brands plans to operate on the ground floor of The Avenue, the new name for the former mall, said restaurateur Omar Shaikh, who's overseeing development of its 3rd Street Market Hall food hall.

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Hempel’s portfolio features a diverse collection of properties in

Minneapolis, St. Paul, and Milwaukee. Get in touch with a Hempel broker today.

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Hempel Homepage

Crosstown Preserve

10050 Crosstown Circle

Suite 600

Eden Prairie, MN 55344

275 W. Wisconsin Avenue

Suite 5

Milwaukee, WI 53203

Twin Cities Office

952 345-7200

Twin Cities Retail

612 355-2600

Milwaukee

©️ HEMPEL 2021 - 2022 | POWERED BY MADE DAILY

Hempel Homepage

Crosstown Preserve

10050 Crosstown Circle

Suite 600

Eden Prairie, MN 55344

275 W. Wisconsin Avenue

Suite 5

Milwaukee, WI 53203

Twin Cities Office

952 345-7200

Twin Cities Retail

612 355-2600

Milwaukee

414 224-0384

©️ HEMPEL 2021 - 2022 | POWERED BY MADE DAILY