Novaya Real Estate Ventures Buys $12M Boston-Area MOB

Located at 340 Wood Road, the asset is fully leased to more than 10 tenants, including Milton Pediatrics, MassGeneral Hospital for Children and South Shore Hospital.
Blue Hills Medical Center

Jumbo Capital Management has sold Blue Hills Medical Center, a 48.617-square-foot medical facility in Braintree, Mass., to Novaya Real Estate Ventures for $11.55 million. An NKF Capital Markets team handled the sale.

Located at 340 Wood Road, the asset is fully leased to more than 10 tenants, including Milton Pediatrics, MassGeneral Hospital for Children and South Shore Hospital. The property offers easy access to Interstate 93, Route 1, Route 3 and Interstate 95.  South Shore Plaza, Harvey Building Products, New England Quality Care Alliance, Residence Inn by Marriott Boston Braintree and Massachusetts Rehabilitation Commission are all located nearby.

The NKF Capital Markets team in charge of the transaction consisted of Executive Managing Director Frank Nelson, Managing Director Michael Greeley of the Boston office, as well as U.S. Capital Markets Co-Head Robert Griffin. “Blue Hills Medical Center is one of the market’s most prominent multi-tenant medical office buildings, featuring high visibility at the Braintree Split and situated within a zero-vacancy medical office corridor,” said Greeley in prepared remarks.

Earlier this year, NKF Capital Markets arranged the $24.8 million sale of a 28,690-square-foot building in Boston’s historic Downtown Crossing neighborhood.

Photo courtesy of NKF Capital Markets