Greenstone Partners has completed the sale of 1952 McDowell Road, a 55,000-square-foot multi-tenant medical and office building located in Naperville. The property was sold for $6.07 million.
Greenstone Partners’ Jason St. John and AJ Patel exclusively represented the seller, a Naperville-based office operator, while the buyer, a local investor, was represented by an outside broker. “The buyer successfully acquired a well-located, cash flowing asset in one of the most thriving submarkets in the Chicago MSA,” said Patel.
The building is anchored by a behavioral health and mental health service practice, Advanced Behavioral Health Services, which occupies the entire third floor and recently expanded and extended their lease through 2029.
The tenancy is a diverse and strong mix of medical users and general office. At 86% occupancy, the buyer, a local investor, possesses the opportunity to acquire a cash flowing asset with additional upside through the lease up of 6,600 square feet spread across three units.
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