Med Office Daily - January 7, 2025

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NEWS ROUNDUP

ACQUISITION: Tareen Development Partners acquires Town Centre Plaza in Eagan, MN. Tareen Development Partners has acquired the medical office building at 1185 Town Centre Drive, Eagan, MN 55123, which will be rebranded as Eagan Medical Center. Anchored by Minnesota's largest independently-owned gastrointestinal and dermatology groups, the property will be enhanced to attract additional tenants and expand healthcare services in the region. Tareen Development Partners deal team included the owner Basir Tareen and Dr. Mohiba Tareen.

DEVELOPMENT: Parkview Health announces Huntertown Crossing project in Huntertown, IN. Parkview Health has unveiled plans for Huntertown Crossing, a $76.4 million mixed-use development located on approximately 34 acres at the northeast corner of S.R. 3 and Gump Road. The project will feature 11 structures, including the nearly completed Parkview Medical Office Building, along with a grocery store, restaurants, 150 apartment units, and a senior living complex. Steve Mallers represented Parkview Health. Indiana Finance Authority (IFA) provided financing.

LEASE SIGNED: JLL leases 25,000 SF for new healthcare center at 809 Atlantic Avenue in Clinton Hill, Brooklyn to Maimonides Health. Maimonides Health has signed a 25,000 SF lease at The Axel, a 29-story mixed-use development by Hope Street Capital, to provide primary care, surgical, and OB/GYN services. JLL’s Ryan Condren brokered the deal for the landlord, while Nick Zweig of Locations Commercial Real Estate represented the tenant.

FINANCING: JLL arranges $38.5M refinancing for six-property national outpatient medical portfolio. JLL Capital Markets has announced a $38.5 million, three-year loan through BankUnited on behalf of Provider Real Estate Partners (PREP) for a 160,060 SF medical portfolio across five states. The portfolio is 100% occupied by leading health systems and physician groups, with properties located in Michigan, North Carolina, South Carolina, New Mexico, and Georgia. The JLL deal team was led by Senior Director Anthony Sardo, Associate Tara Hagerty, and Analyst Matt Sykes.

FINANCING: Colliers secures $55M acquisition loan for nationwide CVS Health portfolio. Colliers has closed a $55 million acquisition loan for a portfolio of 30 triple net CVS leases across key markets, including Texas, Georgia, Florida, Michigan, and New Jersey. The five-year loan was sourced from a Southeast regional bank.  Colliers deal team led by Vice Chairman Shawn Givens, Senior Vice President William Givens, Vice President Robert Siddall, Capital Markets Analyst Bryce Finley, Chief Transaction Analyst Ken Higgins and Financial Analyst Jack Marchant secured the loan for a private client.

READ: West Coast healthcare market remains strong with active deals and development of projects.

MED OFFICE PROPERTIES FOR SALE

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32,866 SF Building (Two Story) | Access to IH-35 and Waco Regional Airport | 80 Parking Spaces

For Sale or Lease | 15,100 SF Building (3 Stories) | Suites 7,500-15,000 SF | 20 Surface and 20 Covered Parking Spaces | Controlled Access

6,772 SF Building | 24 Parking Spaces (two handicapped)

MED OFFICE PROPERTIES FOR LEASE

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938-4,883 SF Suites | 7 Suites Available | 3.4/1000 Parking Ratio

1,495-25,295 SF Suites | 116,000 SF Building | Fully Built-Out | 150 Surface Parking Spaces | 250 Covered Parking Spaces | Utilities Available

3,236 SF | 34,000 SF Building | Full Build-Out | On-Site Parking

ONE MORE THING

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