MCB Acquires Chicago-Area MOB
MCB Science + Health has acquired iMed Naperville Medical Office, a 72,000-square-foot medical office building in Naperville, Ill., a Chicago submarket. DynaCom Management Inc. sold the asset for $28 million, in a deal brokered by Greenstone Partners.
The four-story medical office building came online in 2015 and was 96 percent leased at the time of sale. Endeavor Health, previously known as Edward-Elmhurst Health, anchors the facility. Other tenants include ABC Pediatrics, Basko Dermatology and Naper Grove Vision Care.
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The Class A property features floorplates averaging 18,000 square feet, 10-foot ceiling heights, a two-story lobby atrium and covered patient drop-off and pick-up areas, as well as a 300-spot parking.
The property is at 1331 W. 75th St., 2 miles from the Endeavor Health Edward Hospital and 1 mile from downtown Naperville. Downtown Chicago is 35 miles northeast.
Greenstone Partners Managing Partner Jason St. John brokered the transaction on behalf of the seller.
MCB’s expansion in the health-care sector
MCB Real Estate launched the Science + Health platform in 2022 in a partnership with real estate executive Wilkingson Germain. The venture focuses on acquisition and development in the medical office, senior housing and life science sectors across the U.S.
Earlier this year, MCB broke ground on Drexeline Medical Office Building, the 60,000-square-foot health-care component of Drexeline Town Center in Drexel Hill, Penn. The three-story facility is already fully leased to Delaware County Human Services and Children’s Hospital of Philadelphia.
And, last year, the firm completed the construction of Wellness Center at Yard 56, an 80,000-square-foot, Class A medical office building in Baltimore. The asset is leased by Baltimore Medical System, Innovative Physical Therapy, Bay Vanguard Bank and LabCorp.
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