Boston — Newmark Knight Frank (NKF) has completed the $11.35 million sale of 122-130 Marshall Road in Lowell, MA to Catalyst Capital, a Los Angeles-based real estate investment and management firm specializing in U.S. government-leased properties.
On behalf of JACO Realty, 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 in conjunction with Senior Managing Director Andy Gallas and Managing Director Gino Tabbi of NKF’s Chicago-based government properties team.
Totaling 38,401 square feet, 122-130 Marshall Road is fully leased to the United States Department of Veterans Affairs. The medical office building has served as a multi-disciplinary integrated care facility for the VA Boston Healthcare System since its original construction in 1993.
“130 Marshall Road is a mission-critical patient care facility for the VA Boston Healthcare System. Our client, a Florida-based private partnership, had been excellent stewards of the asset for over 20 years. We congratulate Catalyst Capital on this strategic acquisition,” said Greeley. “Interest in the asset was extremely strong from a variety of medical office and government property investors, both local and national. This facility is one of only a few standalone VA outpatient clinics in New England, and we are very pleased with the outcome of this sale process.”
122-130 Marshall Road is strategically located moments from the intersection of Route 3, Interstate 495 and the Lowell Connector. It is therefore well positioned to serve Middlesex County, which is home to Massachusetts’ largest veteran population.