March 16, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a medical office condominium in the Marston Medical Center located in Lawrence, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to close the property for a sale price of $3,354,182.
The tenant, Steward Medical Group has six plus years remaining on their lease term plus two, five renewal options. The 9,224 square foot condominium is located in the Marston Medical Center, a prominent former mill property adjacent to Lawrence General Hospital that was completely restored and upgraded to a Class A medical office building in 2011. The renovation and conversion was hugely successfully and the property is currently 100% leased. Marston Medical Center sits prominently on the Merrimack River and is easily visible from I-495. The property features a three-level parking garage, energy-efficient heating and cooling systems, a dramatic lobby and scenic views of the Merrimack river. The property is located less than .5 miles from I-495 offering easy access for area residents.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.