CBRE Advises on Sale of Medical Campus Anchored by Fresenius Medical Care in Chicago MSA

CBRE facilitated the sale of the Elk Grove Village Medical Campus, a 52,126-square-foot campus with four medical outpatient buildings (MOBs) located at 901 Biesterfield Road, Elk Grove Village, Illinois to Casa Avore, a private capital group.

Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof, Jesse Greshin and Trent Jemmett of CBRE U.S. Healthcare Capital Markets partnered with Kevin Kobe of CBRE’s Chicago Capital Markets team to act as the exclusive advisors to the seller, Stage Equity Partners.

The diverse tenancy in the four MOBs comprising Elk Grove Village Medical Campus is anchored by Fresenius Medical Care and possesses a highly coveted CON in the state of Illinois. Other tenants include Midwest Sports Medicine & Orthopaedic Surgical Specialists, Medical Center Dental Associates and Nephrology Associates of Northern Illinois and Indiana. The campus was 95% occupied at the time of sale with an average tenancy of over 20 years. The properties offer unique physical attributes that include an 8.1 per 1,000 sq. ft. parking ratio, 8.6-acre land site and a 12,000 sq. ft. future development opportunity.

“Stage Equity has owned Elk Grove Village Medical Campus for over a decade and has kept the buildings above 95% occupancy the entire time,” said Bodnar, a Vice Chairman of CBRE’s U.S. Healthcare Capital Markets practice. “This campus is incredibly well located, offering tenants direct access to their suites and reduced occupancy costs given the single-story nature of the buildings.”

Located in a suburb of Chicago, Elk Grove Village Medical Campus is at the epicenter of Elk Grove’s medical community It is immediately adjacent to the region’s dominant acute care hospital, Ascension Alexian Brothers, which features 401 licensed beds, along with the 72-bed Ascension Alexian Brothers Rehabilitation Hospital. Elk Grove Village offers high-quality local amenities and immediate access via Interstate-290, I-390, and Route 53, providing a desirable healthcare experience for patients and a fully serviced work environment supporting recruitment and retention of employees.

The purchaser, Casa Avore, is a private capital group based in Elk Grove with significant commercial real estate interests.

About Stage Equity Partners
Stage Equity Partners, is one of the nation’s leading owners of healthcare real estate properties, including medical office buildings and surgery centers. Stage acquires, develops and manages top medical office buildings across the country, with a focus on the Midwest and Southeast, including Texas. Founded in 2009, Stage has since evolved into one of the leading private owners of medical office buildings in the country, and developed deep and longstanding lender, owner, investor and broker relationships along the way. For more information, please visit: www.stageequity.com.