MCB Science + Health, a division of MCB Real Estate based in Baltimore, has recently acquired 1331 West 75th Street in Naperville, Illinois for $28 million. The property is a four-story medical office building spanning over 72,000 square feet and was purchased from DynaCom Management Inc. It was reported that at the time of the sale, the building was almost fully occupied with a lease rate of 96%. The anchor tenant is Endeavor Health (formerly Edward-Elmhurst Health), which is part of an integrated health system serving over 1.3 million patients in Chicagoland.
Jason St. John from Greenstone Partners represented DynaCom Management Inc., while Wilkingson Germain – CEO and Managing Partner at MCB Science + Health – led the acquisition on behalf of his company.
Germain stated that their team brings extensive experience in developing and acquiring projects within the life sciences, medical office and senior housing sectors. He also mentioned that iMed Naperville Medical Office offers all necessary fundamentals to ensure its long-term success as an institutional-quality project.
This transaction marks another successful investment for MCB Science + Health as they continue to expand their portfolio within thriving asset classes such as medical office buildings.
