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Medical Office Portfolio in Libertyville Acquired in Off-Market Deal
An affiliate of Stage Equity Partners has acquired the two-building, 91,818-square-foot Hollister Medical Office Portfolio in north suburban Libertyville from Hollister Incorporated, an international medical supply manufacturer, which has its corporate headquarters in an adjacent 300,000-square-foot building.
Stage Equity acquired the properties in an off-market transaction. Gino Lollio of Cushman & Wakefield represented Hollister Incorporated in the transaction. Wintrust Bank provided the financing for Stage Equity. In conjunction with the portfolio acquisition, Stage Equity has named Jason Werth and Tabitha Dozier of NAI Hiffman as exclusive leasing agents.
The Hollister Medical Office Portfolio consists of a three-story, 57,585-square-foot building at and a three-story, 34,233-square-foot building. The properties are in close proximity to Advocate Condell Medical Center in Libertyville and Northwestern Lake Forest Hospital, as well as the newly redeveloped Hawthorn Mall and Melody Farm Lifestyle Center. At the time of acquisition, the buildings had a combined occupancy of approximately 80 percent.
