Pentucket Medical Realty Limited Partnership Sells Medical Office Building to American Healthcare Investors
Newmark Knight Frank (NKF) announced today the successful completion of the $15.5 million sale of One Park Way in Haverhill, Massachusetts to American Healthcare Investors. On behalf of Pentucket Medical Realty Limited Partnership, Executive Managing Director Frank Nelson, Senior Managing Director Michael Greeley and Senior Financial Analyst Casey O’Brien of NKF’s Boston Capital Markets team – which is led by Co-Head of U.S. Capital Markets Robert Griffin – oversaw the transaction of the medical office building.
Totaling 63,539 square feet, One Park Way is presently 100 percent leased to a six-tenant roster anchored by Partners Community Physicians Organization (PCPO), a regional multi-specialty provider. PCPO is a wholly-owned subsidiary of Partners HealthCare, New England’s largest healthcare system.
“Known locally as the Pentucket Medical Center, One Park Way is the Merrimack Valley’s most recognizable healthcare address,” said Greeley. “The purpose-built medical office building boasts an efficient layout for a wide variety of healthcare practices and features a full range of clinical specialties with significant tenant investment. The asset has been a flagship location for Pentucket Medical Associates since its development in the late eighties, and we congratulate our client, a private partnership, on this successful disposition after three decades of exceptional stewardship.”
One Park Way is prominently situated in Haverhill’s downtown district, just steps from the picturesque Merrimack River. The property benefits from swift access to a wealth of local dining options, shopping centers and the MBTA/Amtrak’s Haverhill transit station.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
