Boston — Newmark Knight Frank (NKF) represented Marcus Partners in the sale of Cross Street Medical Center at 40 Cross Street in Norwalk, Connecticut to Anchor Health Properties for $23 million.
Executive Managing Director Frank Nelson, Senior Managing Director Michael Greeley and Director Danielle DeMarco of NKF’s Boston Medical-Academic Practice Group, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the premier medical office building.
Totaling 71,401 square feet, Cross Street Medical Center is anchored by the Norwalk Surgery Center/Norwalk Hospital, St. Vincent’s MultiSpecialty Group, WestMed (formerly Norwalk Medical Group) and the Center for Advanced Pediatrics, complemented by a high-performing roster of private medical practices and diagnostic laboratories.
“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.
With more than 100 physicians practicing within the building, Cross Street Medical Center is one of Fairfield County’s premier multi-tenant medical office buildings. According to Greeley, more than 10 of the nation’s most active medical office investors pursued the asset in a competitive process.
“Investors recognized an opportunity to acquire a well-established medical office building that is widely known by physicians and patients alike,” said Greeley. “We congratulate Anchor Health Properties on its most recent New England acquisition.”