Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 16,000-square-foot medical building in Peoria, Illinois.
The building is 100% occupied under a long-term lease by Springfield Clinic, a leading health provider in north central Illinois.
“We are excited to acquire this well-positioned medical asset for our portfolio and to establish a relationship with one of the largest and most respected providers in the state,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
The building includes an OB/GYN clinic, 26 exam rooms, two ultrasound rooms, a procedure room, and a designated lab space.
Founded in 1939 by five physician partners, Springfield Clinic is the second largest multispecialty medical practice in Illinois, with more than 650 physicians and advanced practice providers, 80 medical specialties and sub-specialties, and two million annual patient visits.
“We are thrilled to expand our medical real estate footprint in Illinois, and especially by the opportunity to build a partnership with Springfield Clinic that encompasses solutions beyond real estate that help physicians thrive and better serve their patients,” said Chip Conk, CEO of Montecito Medical.
