Chicago & Midwest + Greater Chicagoland + Retail | June 1, 2020

Downstate MOB Trades to Private Equity Firm for $10M

Marcus & Millichap recently closed the sale of a fully leased, 65,900-square-foot medical office building at 707 N. Logan Ave. in Danville, IL. The property sold for $9.7 million.

“Medical office buildings are desirable investments for a variety of reasons, including strong tenant credit, the growing need for healthcare services and high lease renewal rates,” said Frank Roti, first VP of investments in Marcus & Millichap’s Chicago Downtown office.

He added, “707 N. Logan Ave. has all these attributes, plus a strong anchor tenant and good net cash flow. This is the type of stable, well-performing asset many investors prefer and it was an easy choice for the buyer.”

Roti and Brett Rodgers, first VP of investments, and Jacob Friedman, associate, represented the private seller and procured the buyer, a private equity firm. Roti and Rodgers have concentrated on the national healthcare and GSA sectors since 2010.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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