MINNEAPOLIS – Transwestern Real Estate Services (TRS) announces that it represented Blue Water III LLC in the sale of 3020 Denmark Ave. in Eagan, Minnesota. The 58,645-square-foot Class A office showroom was purchased by the Plumbers and Gasfitters Local 34 union. Transwestern’s Mike Honsa and John Thompson represented the seller in negotiations.
Plumbers and Gasfitters Local 34 is consolidating its operations and moving both its corporate office and training center to the building. It was previously located at 353 7th St. West in St. Paul.
“This proved to be a great opportunity for the Plumbers Union,” said Honsa. “The property listing came at just the right time and offered the perfect suburban location for the union. Not only did it allow the union to consolidate into one location, but it allowed Blue Water III LLC to take advantage of a strong sales market.”
According to Transwestern research, the Eagan area continues to attract steady investment, with building sales activity remaining strong. Since 2024, 14 office and flex sales transactions have occurred, accounting for nearly 20% of total suburban activity and nearly 30% of total suburban sales volume.
Blue Water III is centrally located in Eagan, with convenient access to several major highways and nearby retail amenities. The property was previously occupied by CHS, which had been in the building since its completion in 1998. Blue Water III LLC’s decision to sell came when the building became vacant for the first time.
The buyer was represented by Jordan Dick, Todd Hanson, and Jason Sell of Cushman and Wakefield.
Photo available for download here.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
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Mallory Martin
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mallory.martin@transwestern.com
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