Anchor Health Properties Grabs Suburban Boston MOB
- Jun 20, 2018
The Davis Cos. has disposed of One Burlington Business Center, a premier medical office building in Burlington, Mass. According to Yardi Matrix, Anchor Health Properties purchased it as part of a three-asset portfolio. The acquisition was funded with an $11.6 million loan provided by Capital One.
The 176,886-square-foot, LEED Gold-certified property is located at 67 S. Bedford St. and spreads across four stories. It underwent a series of common area and exterior upgrades in 2015 and 2016, resulting in renovated lobbies with additional seating, landscaped entrances, a new conference center as well as a new outdoor patio.
Completed in 1984, One Burlington Business Center is adjacent to Lahey Hospital & Medical Center and is anchored by Lahey Health. Other tenants include Keystone Associates, Camden Consulting Group, Jacobs and Welltok. The property has direct ingress to Interstate 95 and Route 128, which provide easy access to downtown Boston.
A Newmark Knight Frank Capital Markets team fronted by Co-Head Robert Griffin and comprising Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Managing Director Michael Greeley, Director James Tribble and Associate Director Samantha Hallowell represented the seller in the transaction.
“Burlington is a premier ‘urbanized’ market that has undergone a surge of capital investment in recent years,” Pullen said in a prepared statement. “(The property) therefore offers tenants a vibrant ‘live-work-play’ environment combined with a first-class physical plant.”
Image courtesy of Yardi Matrix