Normandale 8500 Tower sells at steep discount

The Minneapolis/St. Paul Business Journal reports that the 8500 Tower at Normandale Lake Office Park in Bloomington has been sold at a price nearly 94% below what the lender paid when it took the property at a 2024 foreclosure auction. The Sept. 29 report cites industry experts on factors contributing to the lower price, highlighting ongoing stress in the Twin Cities office market.