LOCATION HIGHLIGHTS
- Adjacent to Holy Family Hospital that is now one of three hospitals that are part of Lawrence General Hospital that service the Merrimack valley area of Boston.
- Greater Boston is ranked eleventh in population among US metropolitan statistical areas, home to 4.9 million people as of the 2020 United States Census,
- According to Pivitol, the Property has a service area that encompasses over 530,000 with a median income of $97,000. They project outpatient procedure demand to increase 22% over the next 10 years.
- Limited supply of competitive medical properties in Haverhill and surrounding communities.
-Massachusetts is a Determination of Need (DoN) state restricting the supply of medical locations.
TENANCY HIGHLIGHTS
- Strong medical eco-system with tenants that offer a variety of services including gastroenterology, urology, general surgery, OB/GYN, orthopedics, dermatology, ENT, plastics, ophthalmology, pain management, audiology, internal medicine, and dentistry.
- 54,239 square feet of new leases and renewals executed since 2021.
- 5.85 year weighted average lease term (WALT) providing near term stability with no tenant accounting for more than 13.08% of overall rent roll
- Rental rates are well below the required rents for new construction, offering value for tenants and stability for the landlord.