Anchor Health Buys Braintree Medical Office Building For $15M

BRAINTREE, MA — Anchor Health Properties has acquired a Braintree medical building for $15 million, officials with the Charlottesville-based company announced.

The 47,350-square-foot medical office building at 340 Wood Rd. is more than 90 percent filled with tenants, which include Milton Pediatric Associates, Blue Hills Medical Associates and Mass General Brigham.

According to the company, the facility sits adjacent to I-93 and the regional South Shore Mall. Originally constructed to 1982, the building underwent a significant renovation effort between 2018 and 2022.

"This investment increases the scale of our presence across the Boston MSA and our Northeast regional portfolio more broadly," said James Schmid, Chief Investment Officer and Managing Partner with Anchor.

"This asset is a welcome addition as we focus on closing on several key transactions by the end of year and we have planned several initiatives that will enhance the profile and value of the facility. We are looking forward to tapping into the building’s long term growth potential, given the demand drivers in the market, as we support the existing tenancy’s operations in delivery community-based healthcare services."

Company officials said interest for the building was heightened by the proximity to a number of area hospitals, including the HealthSouth Braintree Rehabilitation Hospital and South Shore Hospital.

A "growing life sciences office cluster anchored by a 152,000 square foot Class A life science facility" located nearby was also a plus, officials said.