Newmark Completes $15.1+ Million Sale of 340 Wood Road in Braintree, Massachusetts

October 26, 2022 12:00 PM

Newmark announces the $15.1+ million sale of 340 Wood Road, a medical office building that is located less than 15 miles south of Boston in Braintree, Massachusetts. 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 square feet, 340 Wood Road 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 Road 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 Road is positioned along Interstate 93 near its intersection with Route 3, a major junction connecting the South Shore to Boston and known as the “Braintree Split.” The property is also located across from a Logan Express bus station providing service to the airport in Boston, moments from Interstate 95/Route 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.

About Newmark
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. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.2 billion for the twelve months ending June 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 6,500 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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