Baltimore’s MCB Science + Health acquires Illinois medical office building for $28M

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MCB Science + Health has executed the acquisition of 1331 West 75th St., a more than 72,000-square-foot medical office building (MOB) in Naperville, Illinois, for $28 million.

Known as iMed Naperville Medical Office, the four-story asset was 96% leased and occupied at the time of the sale and anchored by Endeavor Health (formerly Edward-Elmhurst Health), part of a leading integrated health system in Illinois that serves more than 1.3 million patients across the greater Chicago area.

MCB Science + Health, a division of Baltimore-based MCB Real Estate, acquires and develops projects serving the life sciences, medical office and senior housing sectors. Jason St. John, managing partner of Greenstone Partners, represented the seller, DynaCom Management Inc., in this transaction.

Delivered in 2015, iMed Naperville Medical Office is a Class ‘A’ building equipped with 18,000 square foot floorplates, 10-foot ceiling heights, a two-story lobby atrium, covered patient drop-off and pick-up areas and adjacent surface parking which can accommodate approximately 300 vehicles. Additional tenants include ABC Pediatrics, Basko Dermatology, DuPage Children’s ENT & Allergy, and Naper Grove Vision Care.

This purchase follows the initiation of two MCB life sciences and medical office building developments over the past two years. Earlier this year, the company began construction on Drexeline Medical Office Building, a 60,000 square foot healthcare component of Drexeline Town Center, a mixed-use development situated in the Philadelphia suburb of Drexel Hill, Pennsylvania. The three-story medical office building at 5100 State Road is 100% leased to Delaware County Human Services and Children’s Hospital of Philadelphia (CHOP), a major nonprofit hospital group.

Last year, the company delivered the Wellness Center at Yard 56, an 80,000-square-foot, Class ‘A’ medical office building located across the street from Johns Hopkins Bayview. Featuring floorplates of up to 27,600 square feet and amenities for hospital guests, patients, employees, and residents, the asset is leased by Baltimore Medical System, Innovative Physical Therapy, Bay Vanguard Bank, and LabCorp.

MCB Science + Health also revealed plans to develop a life sciences campus within VIVA White Oak, a 280-acre site in the Washington submarket which is approved for 12 million square feet of mixed-use development, situated between the U.S. Food and Drug Administration and Adventist White Oak Hospital. The development plan includes up to 4,500 residences, retail, and restaurants and 2 million square feet of biomedical/biotech labs, offices and research and development facilities.