MCB Real Estate鈥榮 US science and health property arm has acquired a 72,000sqft medical office building in Naperville, Illinois.
MCB Science + Health said it has bought the iMed Naperville Medical Office building at 1331 West 75th Street from DynaCom Management for $28m (鈧�25.4m). The seller was represented by Greenstone Partners in this transaction.
At the time of the sale, the four-storey asset had a 96% occupancy rate and was anchored by Endeavor Health.
Wilkingson Germain, MCB Science + Health鈥檚 CEO and managing partner, said: 鈥淎fter carefully vetting this property, it became clear that the building鈥檚 tenant base is exceptionally stable and each group plays an important role in satisfying the ongoing health and wellness needs of the greater Naperville community.
鈥滶qually important is the proximity of the building to major local medical centres, which places these medical practices within easy reach of their patients and related stakeholders.鈥�
MCB Science + Health said it is is also planning to develop a life sciences campus within VIVA White Oak, a 280-acre site in the Washington, DC submarket.
VIVA White Oak is approved for 12m sqft of mixed-use development. The development plan includes up to 4,500 residences, retail, restaurants, and 2m sqft of biomedical/biotech labs, offices and research and development facilities.
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