Healthcare Realty has acquired Greenwich Medical Center at Holly Hill, an outpatient medical campus in Greenwich, CT, in a transaction arranged by Newmark. The approximately $65 million sale transferred the 106,092-square-foot Class A facility at 75 Holly Hill Lane from Benedict Realty Group to Healthcare Realty.
Newmark coordinated the disposition on behalf of the seller. The Newmark team representing Benedict Realty Group included Co-Heads of U.S. Medical Office Capital Markets Ben Appel, Justin Shepherd and Jay Miele, along with U.S. Head of Medical Office Debt John Nero. They were joined by Senior Managing Director Michael Greeley and Associate Directors Ron Ott, Conor Hilton and Drew Martin in advising on the transaction.
Greenwich Medical Center underwent a renovation in 2016 and is positioned as a key outpatient destination within Fairfield County’s established healthcare corridor. The campus is anchored by Yale New Haven Health and Stamford Health, two major regional healthcare systems that draw patients from across the area. Their presence supports the property’s role as a significant node in the local healthcare delivery network.
The medical campus is located off West Putnam Avenue, also known as U.S. Route 1, in an area of Greenwich commonly referred to as “Doctor’s Row.” This corridor is characterized in the market as a cluster of medical and healthcare-related uses. The property benefits from regional connectivity via Route 1 and nearby transportation links, as well as from the town’s affluent demographics and a medical office market described as highly supply constrained.
Proximity to Greenwich Hospital and other major healthcare facilities further reinforces the strategic positioning of the asset within the broader regional healthcare ecosystem. The combination of location, access and tenant profile contributes to the property’s status as one of the area’s prominent outpatient medical assets.
Commenting on the broader market context, Newmark’s Ben Appel noted that Greenwich attracts both private and institutional capital from domestic and international sources. He cited high and growing rents, along with very tight occupancies across both the medical and corporate office segments, as drivers of strong long-term performance. According to Appel, these conditions supported a deep buyer pool for the Greenwich Medical Center transaction.
