Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the fee simple interest in the Merrimack Medical Center (“The Property”) located at 62 Brown Street, Haverhill, Massachusetts, a 57,932 rentable square foot, on-campus, purpose-built, medical office building. The Property was built in 2005 and is the only medical office building on Steward Health Care’s (“Steward”) market leading Holy Family Hospital campus. The Merrimack Medical Center is a multi-specialty clinical building with more than 13 medical specialties. The Property offers an investor the opportunity to acquire a top-of-the-line, on campus medical facility with meaningful scale of 57,932 square feet within the Boston metropolitan area. The Merrimack Medical Center features high-quality medical specialists with a steady 3% average annual rent escalation.
Investors will benefit from strong initial cash flow with the ability to create additional value through the lease up of the remaining vacant suites, as well as significant mark to market opportunity with in-place leases upon expiration. The Property is available for acquisition on a fee simple basis free and clear of debt.
- High Quality Tenancy with Favorable Rent Escalations
- Meaningful Scale with 57,932 Rentable Square Feet and Strong Stabilized Year Three NOI
- Location in the Boston Metro and located on the campus of the Market Leading Hospital