The former corporate headquarters of Delta Airlines was acquired by Opportunity Partners Fund IV in June 2015. The property, ideally located near the intersection of Interstates 494 and 35E in Eagan, MN, includes two buildings totaling 550,000 square feet and nearly 200 acres of rolling terrain, trees and ponds.
Immediately upon acquisition, The Excelsior Group (TEG) began contacting prospective users. Many of these users, including the Minnesota Vikings, had formerly considered purchasing the property. Within weeks of closing on this investment, TEG entered into an agreement to sell the entire asset to the Vikings at a significant premium to its purchase price. The sale closed in January 2016, just 7 months after TEG’s purchase.
The Minnesota Vikings intend to create a new headquarters and training facility on the property that will welcome fans throughout the year. Additionally, they have future plans for meaningful mixed-use development.