After renovating the new site to accommodate its school and worship functions, the church expects to move into the facility "by Christmas vacation." Winchester Hospital will fully occupy 620 Washington St. "within 12 months," according to a spokesperson for the IFC.
"The acquisition of 99 Concord St. is a most opportunistic purchase by the International Family Church," says Edward C. Maher Jr., executive director at Cushman & Wakefield, who along with Rob Griffin and Chris Griffin exclusively represented Principal Financial. "Premium facilities continue to be sought by institutions who are able to take advantage of attractive debt markets and motivated sellers."
Built in 1985, 99 Concord was vacant at the time of the purchase and was originally the world headquarters of the Converse Shoe Corp. The building, which looks like a church, features a four-story lobby with a monumental staircase.
620 Washington St. was acquired from Textron in 1994 for $1.9 million and extensively renovated, converting about 35,000 sf of manufacturing space into a school. Winchester Hospital plans to use the space for non-emergency and outpatient services.
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