February 6, 2020 Comments Off on Emerson Hospital Outpatient Facility Trades to JV for $23M Views: 475 Boston New England News, Metro Boston

Emerson Hospital Outpatient Facility Trades to JV for $23M

JLL Capital Markets arranged the disposition of the Emerson Hospital Center for Specialty Care, an outpatient facility for Emerson Hospital in Concord, MA. The 46,350-square-foot facility traded to a joint venture of Celera Properties and AEW Capital Management for $23.3 million.

A JLL team of Coleman Benedict, Ben Sayles, Mike Restivo, Mindy Berman and Brannan Knott represented the seller, Concord Property Management, and procured the buyer. The Celera/AEW JV plans to retain Concord Property Management to manage the property, which is leased on a long-term basis to Emerson Hospital.

JLL says the three-story property at 54 Baker Ave. Extension in Concord has seen an outsized capital investment, creating a highly-specialized facility. It provides services for adults and children in the fields of cardiology, endocrinology, imaging, laboratory, nephrology, neurology, orthopedics, pain management and wound care.

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