Updated Sep 2, 2026
Basir Tareen Of Tareen Development Partners Acquires Medical Office In Eagan For $7.8M
1185 Town Centre Drive
$7,800,000
$178/SF
Building Size
43,640 SF
Asset Type
Medical Office
Closing
Dec 18, 2024
About this deal
AI
The medical office property located at 1185 Town Centre Drive in Eagan, MN, has been sold for $7.8 million. This asset encompasses an area of 43,640 square feet and sits on 3.19 acres. The property was originally built in 2000 and is situated in a developing market.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $7,800,000
- Address: 1185 Town Centre Drive
- Market: Eagan, MN
- Square Footage: 43,640
- Price Per Square Foot: $179
- Buyer: Basir Tareen - Tareen Development Partners
- Seller: Town Centre Eagan LLC
- Brokers: Cory Villaume & Matt Hazelton - JLL
Tareen Development Partners has acquired Town Centre Plaza with intentions to rebrand it as Eagan Medical Center. The new owners plan to improve the existing building and seek to attract a leading medical group to achieve full occupancy in the property.
On the Map
$7,800,000
$178/SF
Medical Office
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Players
Saint Paul Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93