August 2, 2021 12:00 PM
Newmark announced that it has completed a 9,843-square-foot, long-term medical office lease with The Vascular Care Group at 981 Worcester Street in Wellesley, Massachusetts.
“We’re thrilled to have The Vascular Care Group locate their Wellesley practice in 981 Worcester Street,” said Steve Cohen, Principal of CEA Group. “Their reputation for quality care and innovative practice management is apparent in the amazing facility they designed and constructed.”
Newmark Senior Managing Directors Dan Krysiak and Michael Greeley represented the landlord, CEA Wellesley Trust, in the lease negotiations. Michael Milano of Spinnaker Healthcare Advisors advised the tenant.
The completion of this transaction represents the continued momentum in the landlord’s master plan of converting the building from office to a Class A medical office building,” said Krysiak. “Still available for lease at the building are two small suites–measuring 4,349-square-feet, sub-dividable to 2,073 SF, and 4,996-square-feet, respectively.”
981 Worcester Street is a two-story, Class A office building totaling 28,120 square feet being converted to medical office use. The building’s features include Route 9 visibility and frontage, signaled left-hand turn access, an abundance of parking–4 spaces/1,000 square feet, oversized windows and 12’ clear ceiling heights. The lease with The Vascular Care Group comes on the heels of an 8,017-square-feet lease with Fresenius Kidney Care in 2020.
“981 Worcester Street was an ideal solution for The Vascular Care Group in terms of the location and building aesthetics to expand their highly rated vascular practice and service patients in the Route128 and Metrowest areas,” said Ron Golub, Partner at CEA Group. “The building’s access and parking make 981 Worcester Street the perfect facility for both patients and staff.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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