**Milford Medical Office Park Sold for $4.1M Amid Continued Demand**
Marcus & Millichap has completed the sale of Hill Office Park, a three-building, 39,424-square-foot medical office complex located in Milford, Massachusetts. The property sold for $4,125,000.
“This is the second time we’ve sold this medical office building since 2020,” said Harrison Klein, Managing Director of Investments at Marcus & Millichap’s Boston office. “Closing this sale despite a 25% vacancy is indicative of the demand for medical-focused space. The buyer, a private family, reflects the current pool of investors for similarly sized office buildings in New England.”
Klein represented the seller, a private investor, and also procured the buyer, a Worcester-based private investor.
Located at 113–117 Water Street, Hill Office Park is currently 76% occupied, housing 12 tenants across three buildings. Notable medical tenants include Milford Regional Medical Center (owned by UMass Medical), Metro West Oral Surgery, and Asthma Allergy Physicians. Originally built in 1985, the complex is situated less than three miles from Interstate 495 and under a mile from Milford Regional Medical Center.
This transaction underlines the sustained investor interest in healthcare-related real estate, especially within the suburban Boston market.
For more insights into capital markets, medical office development, leasing trends, and the evolving needs of healthcare providers, industry professionals are encouraged to attend the upcoming Connect Healthcare Real Estate 2025 conference, taking place October 14–15 in Irvine, California.
