The buyer, an affiliate of Hammes Partners, takes control of the property at 1185 Town Centre Drive, which serves as a specialized healthcare anchor for the southeastern Twin Cities. Under Tareen Development Partners’ ownership, the asset underwent significant common-area upgrades and a strategic shift toward medical-focused tenancies. This repositioning helped solidify the building’s status as a regional destination, highlighted by a lease extension through 2027 for Tareen Dermatology, the state’s largest independent dermatology practice.
Tareen Development Partners Sells Eagan Medical Center for $12.75 Million
Tareen Development Partners has offloaded the Eagan Medical Center, a 44,000-square-foot facility, for $12.75 million. The August 6 transaction marks a swift exit for the developer, which acquired the property only twenty months prior for $7.8 million, subsequently rebranding the site and securing key long-term tenants for the medical hub.
Beyond dermatology, the center houses a high-profile roster of specialists, including Minnesota Urology and MNGI Digestive Health, alongside Brecke Counseling and the Spartz Vein Clinic. By clustering these independent practices, the facility offers a consolidated patient experience near the intersection of Interstates 35E and 494. Colliers facilitated the sale for the developer, concluding a project that CEO Basir Tareen described as a successful exercise in value creation through targeted investment and facility improvements.
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