**Chelmsford Medical and Surgical Center Sells for $9M Following Successful Lease-Up**
O’Brien Commercial Properties has announced the sale of the Chelmsford Medical and Surgical Center, a two-story, 72,050-square-foot medical office building located at 321 Billerica Road in Chelmsford, Massachusetts. The property was acquired by Albany Road Real Estate Partners for $9,041,800.
Senior Associate Rob McGarry of O’Brien Commercial Properties led the brokerage team representing the seller, Vanderbilt Norwood LLC. McGarry highlighted the collaboration with Vazza Real Estate Group in executing a strategic lease-up and exit plan. “We partnered with the Vazza Real Estate Group to execute a successful lease-up and exit strategy for 321 Billerica Road, ultimately achieving 91% occupancy at the time of sale,” said McGarry. “It was a pleasure working with both Vazza and the buyer, Albany Road, throughout the transaction.”
The property was actively marketed for just three months and closed within six months. It benefitted from strong demand due to high occupancy, Chelmsford’s robust local economy, an educated workforce, and strategic proximity to both the Boston metro area and Southern New Hampshire.
This transaction underscores continued investor interest in well-leased healthcare real estate in high-demand suburban markets.
