MSP Commercial’s acquisition of the Midwest ENT Clinic in Eagan was featured in Finance & Commerce’s “Just Sold” section. Article shown below.
Just Sold: Eagan medical office sells in three days
3460 Promenade Ave., Eagan (Submitted photo: CoStar)
Published by Finance & Commerce on January 5, 2021
By Anne Bretts
An eager buyer and a seller with a tight timeline spurred the $5.7 million year-end sale of CityVue Medical Building, a 12,500-square-foot medical office built in 2017 on 1.46 acres at 3460 Promenade Ave. in Eagan. The sale closed at a price that works out to $456 per square foot.
Matt Hazelton, Cory Villaume, Sean Doyle and AJ Prins of the Minneapolis office of CBRE represented the seller and recruited the buyer.
MSP Metro Operating Company LLC of Eagan acquired the property from Town Centre Medical Building LLC of Eagan. Both parties were related to local private investors, Villaume said.
“We put it together pretty fast,” Villaume said. “We put this on the market and had it sold in three days.”
The building was completed in 2017 and was leased immediately to Midwest Ear, Nose, and Throat Specialists.
“It was a really clean deal,” he said. The building has strong tenants, with 12 years left on their lease.
The key to the deal was that the seller wanted to get it done by the end of the year.
They closed Dec. 30.
Place: 3460 Promenade Ave., Eagan
Price: $5.7 million, $456 per square foot
Buyer: MSP Metro Operating Company LLC, Eagan
Seller: Town Centre Medical Building LLC, Eagan
Date: 12-30-2020
Original article posted here: https://finance-commerce.com/2021/01/just-sold-vacant-shakopee-hq-could-become-middle-school-to-college-flex-campus/
