Mission-critical Emerson Hospital outpatient facility in Concord, MA trades hands for $23 Million

 Emerson Hospital Center for Specialty Care, 54 Baker Avenue, Concord, MA

BOSTON, MA – JLL Capital Markets announced today that it has successfully facilitated the disposition of the 46,350-square-foot medical office property known as the Emerson Hospital Center for Specialty Care. 

Travis Snell

Located at 54 Baker Avenue Extension in Concord, Massachusetts, and highly visible from Route 2, the building serves as a highly-specialized, mission-critical outpatient facility for Emerson Hospital.

Mindy Berman 

JLL exclusively represented the seller, Concord Property Management, and procured the buyer, a joint venture of Celera Properties and AEW Capital Management, who purchased the property for $23.3 million.

 Coleman Benedict

This three-story asset has seen an outsized capital investment, creating a highly specialized facility that has become a cornerstone for the delivery of care. Emerson Hospital occupies the entirety of the property on a long-term lease. 

Ben Sayles

The campus-adjacent center provides expert services for adults and children in the fields of cardiology, endocrinology, imaging, laboratory, nephrology, neurology, orthopedics, pain management and wound care.

Mike Restivo

Due to its success in maximizing the performance of the asset, the buyer has plans to retain the seller for property management services.

“Our team is thrilled with this transaction – the process was highly competitive and well executed,” said Travis Snell, President of Concord Property Management. “We very much look forward to working with the Celera/AEW team in their stewardship of this asset.”

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Ben Sayles, Mike Restivo, Mindy Berman and Brannan Knott.

Brannan Knott

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

 The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Contact: 

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

The Castell Project Releases Third Annual Women in Hospitality Industry Leadership Report

Peggy Berg

ATLANTA, GA, Feb. 6, 2020—Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, today released the 2020 Women in Hospitality Industry Leadership report. 

 Now in its third year, the report benchmarks the hospitality industry’s performance in women’s careers in leadership.

“Even though a great deal of distance still needs to be covered to reach true gender parity, we were delighted to find the pendulum starting to swing in the proper direction,” said Peggy Berg, president, Castell Project, Inc.

  “We are seeing an acceleration of women in leadership roles across the political, civic and business spectrum. 

"This is supported by the pipeline of graduates coming out of colleges and universities, by the strong and deep bench of female talent currently at work in numerous industries, including hospitality, by the opportunities created as baby boomers retire, by the share of wealth now controlled by women and by widespread interest among both men and women in realizing the benefits of this cultural shift.”

 “It is heartening to have the statistical information that demonstrates companies are beginning to take notice that gender diversity is good for the bottom line,” Berg added. 

“However, the Castell Project is nowhere near its goal of seeing women in more than one of three C-suite positions in every major hospitality organization. 

"Research continues to prove that companies with greater gender diversity are more profitable and often can approach new issues and opportunities with a fresher perspective made up of many differing voices. 

"We look forward to the day when our mission is complete, but will continue to track and work diligently until we achieve those goals.”

To download a copy of the report, please visit www.CastellProject.org.

 CONTACT:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com