EASTON, MA-New Bedford-based Whelan Associates LLC is selling one of its brand new medical office buildings, One Washington Pl., for $14.7 million. The 5,540-sf facility accommodates a full-service physical rehabilitation center, two ambulatory surgical suites and numerous medical technologies. The buyer is completed the transaction as the entity Wash Mass LLC.
“This sale underscores the validity of our company’s focus on value-added development,” says William Whelan, president of Whelan Assoc. in a statement. “Developing first class buildings in partnership with tenants creates value in these buildings and is a win-win situation for all parties involved. We are very encouraged by the level of activity we’re seeing in response to our development model.”
The building is fully-leased with seven tenants and was completed in 2007 as part of a three-building development on Route 138 at the Easton/Stoughton border. Two Washington Pl. is a 42,000-sf medical office building and will complete construction in October 2008. It is currently 65% preleased. The third building, Three Washington Pl. is 26,000-sf and currently preleasing. The deal at One Washington Pl. is brokered by Rick Barnes of Sea Watch Realty.