Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Remedy Medical Properties Snags 70K-SF Andover Medical Center
Private owner of healthcare real estate Remedy Medical Properties has acquired Andover Medical Center, a three-building, 69,992-square-foot medical office complex in Andover, Mass. The sales price was not disclosed.
The regional multi-specialty care center serves as a flagship off-campus outpatient facility for Lawrence General Hospital, a 186-bed community hospital located less than 10 miles away. Pentucket Medical, a member of Mass General Brigham, also contributes to the tenant mix. The facility is located at 323 Lowell St. in Andover.
“Remedy is excited to announce the addition of this excellent Class A healthcare facility to our growing medical properties portfolio,” said Joe Magliochetti, CIO at Remedy. “Not only is it a beautiful, high-quality building, it is superbly located in a highly desirable submarket of Boston, and is fully occupied by very highly regarded healthcare tenants, including main anchor tenant Lawrence General Hospital and subtenants Mass General Brigham/Pentucket Medical, Orthopaedics Northeast and Boston Eye Group/Boston Laser, Andover Medical Center.”
Michael Greeley, of Newmark’s Medical-Academic Practice Group in Boston represented the undisclosed seller in the transaction.
- ◦Sale/Acquisition
