BOSTON — NKF Capital Markets has completed the sale of Blue Hills Medical Center in Braintree, Massachusetts to Novaya Real Estate Ventures for $11.55 million. On behalf of Jumbo Capital Management, NKF Capital Markets Executive Managing Director Frank Nelson and Managing Director Michael Greeley of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the suburban Boston medical office building.
Located at 340 Wood Road, Blue Hills Medical Center encompasses 48,617 square feet of space. Presently 100 percent leased to 14 tenants, the asset is anchored by Milton Pediatrics, MassGeneral Hospital for Children and South Shore Hospital.
“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. “We congratulate Novaya Real Estate Ventures on this strategic acquisition and Jumbo Capital Management for its successful repositioning of this asset.”
Blue Hills Medical Center is prominently positioned at the convergence of Interstate 93, Route 1 and Route 3 – known as the “Braintree Split” – and just moments from Interstate 95 (Route 128). A wealth of amenities, anchored by the 2.2 million square foot South Shore Plaza, surround the property.