Marcus & Millichap Brokers $11.6M Sale of Medical Office Building in Moline, Illinois

MOLINE, ILL. — Marcus & Millichap has brokered the sale of Heartland Clinic and Ambulatory Surgery Center in Moline, one of the Quad Cities, for $11.6 million. The 34,020-square-foot medical office building is a multi-specialty practice that includes gastroenterology, pain management, otolaryngology (ENT), urology and nutrition departments. The physicians affiliated with the clinic perform their surgeries at the on-site Regional SurgiCenter, an ambulatory surgical center that is majority owned and operated by Covenant Surgical Partners Inc. Private equity firm Kohlberg, Kravis & Roberts, a global investment firm with over $148 billion in assets under management, recently acquired Covenant. Scott Niedergang and Gino Lollio of Marcus & Millichap represented the physician partnership that built the property. The buyer was not disclosed.