Newmark completes $15.1 million sale for Foxfield LLC to Anchor Health Properties

Braintree, MA Newmark completed the $15.1 million sale of 340 Wood Rd., a medical office building that is located less than 15 miles south of Boston. Newmark co-head of U.S. capital markets Robert Griffin, executive managing director Frank Nelson, senior managing director Michael Greeley and director Blake McLaughlin of the firm’s Boston Capital Markets group represented the seller, Foxfield LLC, and procured the buyer, Anchor Health Properties. This sale is an example of the offerings made available on a national basis by Newmark’s Healthcare Capital Markets group–which is led by Greeley along with executive managing director Ben Appel and senior managing directors Jay Miele and John Nero.

Totaling 47,530 s/f, 340 Wood Rd. is presently 94% leased to 16 tenants. Its rent roll is anchored by primary care providers that drive a complementary base of specialty practices and boast clinical affiliations with some of the most renowned hospitals and health systems in the Boston area.

“340 Wood Rd. is one of the most recognizable healthcare destinations in suburban Boston,” said Greeley. “Known locally as Blue Hills Medical Center, it combines its prominent location at the ‘Braintree Split’ with highly visible signage, first-class finishes and recent base building upgrades.”

340 Wood Rd. is positioned along I-93 near its intersection with Rte. 3, a major junction connecting the South Shore to Boston. The property is also located across from a Logan Express bus station providing service to the airport in Boston, moments from I-95/Rte. 128 and near two public transit stations providing service to Boston via the MBTA Red Line and commuter rail.

Senior financial analyst Nickolas Revers provided financial analysis support for the transaction.