By J.D. Duggan
June 17, 2026
An office building in St. Louis Park that was once occupied by Target Corp. has sold for $34 million.
Minnetonka-based Opus sold the 309,000-square-foot building at 3701 Wayzata Blvd. to Louisville, Colorado-based real estate firm Real Capital Solutions, which disclosed the deal.
The building, easily visible from I-394, was for years commonly known as “Target West” — the Minneapolis-based retailer used the property for financial and retail services teams before opening a larger suburban campus in Brooklyn Park. Target sold the property to Opus for $22.1 million in December 2018; Opus undertook a renovation project to turn it into a multi-tenant property.
Opus has had the property on the market since at least March.
The improvements made since 2018 include an overhauled cafeteria, a new rooftop deck and more natural light in the building. Some amenities include a tenant lounge, fitness center, training room, golf simulator, cafe, and walking and bike paths. Security staff is on-site. The building overlooks Brownie Lake and Cedar Lake on a 25.8-acre property.
Opus signed Tactile Medical, which now has a 150,000-square-foot headquarters there. Regis Corp., SRF Consulting and MOBE all also have headquarters at the property. The building is 99% leased, according to Real Capital Solutions. It still has a 2,729-square-foot vacant office space.
The CBRE team representing the seller included executive vice presidents Ryan Watts and Thomas Holtz, Senior Vice President Harrison Wagenseil, and Investment Sales Manager Cynthia Fenn.
Real Capital Solutions calls it a Class A office building, though it was built in 1953 for insurance company Prudential.
“3701 Wayzata stands out because it offers the qualities tenants continue to prioritize: a highly accessible location, meaningful amenities and a workplace environment that helps companies attract and retain talent,” Adam Abeln, chief acquisitions officer at Real Capital Solutions, said in a statement. “The property’s combination of long-term tenancy, recent capital investment and distinctive setting creates a strong foundation for future performance.”
Real Capital Solutions previously bought Kurita America Inc.’s Brooklyn Park headquarters for $22.3 million in January 2021, selling it in May 2025 for $23.5 million. It also bought Blue Cross Blue Shield’s Eagan headquarters in June 2024 for $60.7 million.
The firm says it has bought and managed more than 395 real estate assets over its 40 years. It currently reports $2.4 billion in assets under management.
Nearby, Minneapolis-based Hempel Real Estate bought the vacant West End Two office building for $6.5 million in May. Hempel plans to redevelop the property with 150 senior independent living units and 5,500 square feet of retail, though it could pivot to a reuse of the building with a buy-to-suit occupier.
