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National MOB Demand Extends to Illinois

Cornerstone Medical Building, a two-story, 61,174-square-foot medical office property in Rockford, IL, has traded hands. Marcus & Millichap’s Ben Tashakorian and David Benjamin marketed the property on behalf of the seller, Ephraim LLC. Steven Weinstock assisted as the Illinois broker of record. The buyer was undisclosed.

The medical office building, located at 1235 N. Mulford Rd. in the affluent area of Rockford, was originally constructed in 1988 and renovated in 2003. The property is currently 84% leased to a variety of healthcare providers, including pain management, retina care, dermatology, gynecology and orthopedics.

Benjamin says, “We are seeing great demand for medical assets nationwide. Cornerstone Medical Office offers a great value-add opportunity in a healthcare rich marketplace. National healthcare companies are not only reinvesting in their current assets, but new players, such as Mercyhealth, are entering the Rockford market.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition