O’Brien Commercial Properties recently closed the sale of The Chelmsford Medical and Surgical Center, a 72,050-square-foot, two-story medical office building located at 321 Billerica Rd. in Chelmsford, MA. The property traded for $9,041,800 to Albany Road Real Estate Partners.
Senior associate Rob McGarry led the brokerage team representing the seller, Vanderbilt Norwood LLC. “We partnered with the Vazza Real Estate Group to execute a successful lease-up and exit strategy for 321 Billerica Rd., ultimately achieving 91% occupancy at the time of sale,” said McGarry. “It was a pleasure working with both Vazza and the buyer, Albany Road, throughout the transaction.”
McGarry successfully positioned the asset in a competitive market, actively marketing it for just three months and closing in six months. The medical building benefited from high occupancy, combined with Chelmsford’s robust local economy, educated workforce and proximity to both the Boston metro area and Southern New Hampshire.
The post Chelmsford MOB Trades for $9M After Lease-Up Campaign appeared first on Connect CRE.
