Cushman & Wakefield Represents Owner in $7.7 Million Sale of 25,565 SF Medical Office Building in Roscoe, Ill.
Three-tenant property near Illinois/Wisconsin border is anchored by SwedishAmerican, a division of UW Health
CHICAGO, Jan. 31, 2020 – Cushman & Wakefield’s Healthcare Capital Markets team has represented owner Glen Rock Development, LLC in the $7.7 million sale of a three-tenant Class-A 25,565 square foot (sf) medical office building at 4282 E. Rockton Road, in Roscoe, Ill., to a U.S.-based non-traded real estate investment trust focusing primarily on healthcare-related assets. The 7.52-acre property, known as the SwedishAmerican Clinic & Immediate Care – Prairie Center, is located less than five miles south of the Illinois/Wisconsin border.
Constructed in 2014, the building is anchored by SwedishAmerican, a division of UW Health, which occupies 20,000 sf, or 80 percent of the property. Services provided at the location include immediate care, primary care, obstetrics and gynecology, podiatry, orthopedics, pulmonology, cardiology and physical therapy. The other tenant, Siepert & Co., LLP, is a certified public accounting firm, and occupies 3,600 sf, or 14.4 percent of the building. Currently, 1,400 sf of rentable space is vacant.
Glen Rock Development was represented in the sale by Cushman & Wakefield’s Healthcare Capital Markets team members Gino Lollio, managing director, Scott Niedergang, managing director, and Travis Ives, senior director.
“Constructed as a build-to-suit for SwedishAmerican just six years ago, the modern property remains one of the most state-of-the art medical offices in the area,” said Lollio. “SwedishAmerican’s affiliation with UW Health (Moody’s Aa3 credit rating), the property’s close proximity to Rockford, Ill., and Beloit, Wis., and an expected five percent population increase in the area within the next five years, makes this an excellent investment opportunity for the new owners.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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Jeremy Barewin
Communications Manager
Direct: +1 312 424 8017
Mobile: +1 773 841 5288
jeremy.barewin@cushwake.com
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