Anchor Health Acquires $23M MOB

The company purchased the 71,401-square-foot Cross Street Medical Center in Norwalk, Conn. Newmark Knight Frank represented the seller, Marcus Partners, in the transaction.

Cross Street Medical Center
Cross Street Medical Center

Marcus Partners sold Cross Street Medical Center to Anchor Health Properties for $23 million. 

Newmark Knight Frank’s Executive Managing Director Frank Nelson, Senior Managing Director Michael Greeley and Director Danielle DeMarco, oversaw the building transaction.

Investor Interest 

Located at 40 Cross St. in Norwalk, Conn., the 71,401-square-foot medical office building is anchored by the Norwalk Surgery Center/Norwalk Hospital. Other tenants include St. Vincent’s MultiSpecialty Group, WestMed, the Center for Advanced Pediatrics and more than 100 physicians. According to Greeley, more than 10 of the nation’s most active medical office investors pursued the asset in a competitive process.

“With immediate highway access and a strategic position near Norwalk Hospital, Cross Street Medical Center serves one of Connecticut’s strongest patient demographics,” said Greeley, in prepared remarks. “Investors recognized an opportunity to acquire a well-established medical office building that is widely known by physicians and patients alike.”

In July, Anchor Health also acquired Fletcher Parkway Medical Center, a 82,024-square-foot medical office building in La Mesa, Calif. 

Image courtesy of Marcus Partners