Edgewood Real Estate Investment Trust Acquires Office Building In Eagan For $11.5M From WP Carey
2985 Ames Crossing Road
$11,500,000
$191/SF
Building Size
60,000 SF
Asset Type
Office
Closing
Sep 24, 2025
About this deal
AI
The property involved in this transaction is a 60,000-square-foot single-tenant office building located at 2985 Ames Crossing Road in Eagan, Minnesota. It was sold for a total of $11,500,000, translating to a price per square foot of $192.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,500,000
- Buyer: Edgewood Real Estate Investment Trust
- Seller: W.P. Carey Inc
- Square Footage: 60,000
- Address: 2985 Ames Crossing Road
- Market: Eagan, MN
Edgewood Real Estate Investment Trust has acquired the property which is fully leased to Midcontinent Independent System Operator. This indicates the tenant will remain in place following the purchase from W.P. Carey Inc.
On the Map
$11,500,000
$191/SF
Office
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Players
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93