MALDEN, Mass. — Cambridge Health Alliance (CHA) has renewed its 75,330-square-foot lease at 195 Canal Street in Malden, ensuring its Malden Family Medicine Center will remain at the location for at least another 10 years, property owner Combined Properties, Inc. announced.
The long-term lease extension allows the healthcare provider to continue operating its primary care and specialty services from the state-of-the-art medical facility, which has served the community since opening in 2007.
“We are pleased to continue our partnership with Cambridge Health Alliance,” said Greg Regazzini, senior vice president and director of leasing for Combined Properties. “A true asset to the Malden area public, Cambridge Health Alliance provides the highest quality of healthcare at this leading medical facility. The outstanding care is complemented by this first-class property, outfitted with all the latest medical technologies.”
Regazzini also highlighted the property’s location, noting its proximity to the Malden River, the Riverwalk Path and the Northern Strand Community Trail, providing convenient access for patients and staff.
The Malden Family Medicine Center offers a wide range of healthcare services, including family medicine, primary care, behavioral health, nutrition, women’s health, pharmacy services and the Program of All-Inclusive Care for the Elderly (PACE). Patients also have access to specialized care through CHA’s clinical partnerships with Beth Israel Deaconess Medical Center and Mass General Brigham for Children.
In addition to providing patient care, Cambridge Health Alliance serves as a major teaching institution. Affiliated with Harvard Medical School and Tufts University School of Medicine, CHA also serves as a teaching hospital for the Harvard T.H. Chan School of Public Health and the Harvard School of Dental Medicine, training future physicians and healthcare professionals.
The lease renewal reflects the continued success of Combined Properties’ redevelopment of 195 Canal Street. After acquiring the 4.6-acre industrial site, the real estate development firm transformed the once-vacant property into a modern office and medical campus. According to the company, the property’s assessed value has increased from approximately $2 million before redevelopment to nearly $14 million today.
The lease transaction was brokered by Cresa, with Managing Principal Paul Delaney and Advisor Carter Swaebe representing Cambridge Health Alliance.
The renewal reinforces the long-term presence of one of the region’s largest healthcare providers in Malden while underscoring the continued demand for modern, community-based medical facilities in Greater Boston.
