Stage Equity Partners’ affiliate has recently acquired the Hollister Medical Office Portfolio, a two-building complex spanning 91,818 square feet in Libertyville. The seller was international medical supply manufacturer Hollister Incorporated, whose corporate headquarters is located in an adjacent 300,000-square-foot building.
The acquisition of these properties was made through an off-market transaction and was facilitated by Gino Lollio of Cushman & Wakefield on behalf of Hollister Incorporated. Financing for the deal was provided by Wintrust Bank. As part of this portfolio acquisition, Stage Equity has appointed Jason Werth and Tabitha Dozier from NAI Hiffman as exclusive leasing agents.
The portfolio includes a three-story building measuring 57,585 square feet and another three-story building spanning 34,233 square feet. These buildings are strategically situated near Advocate Condell Medical Center and Northwestern Lake Forest Hospital in Libertyville as well as popular shopping destinations like Hawthorn Mall and Melody Farm Lifestyle Center which have recently undergone redevelopment projects. At the time of purchase,the combined occupancy rate for both buildings stood at approximately 80 percent.
