Updated Oct 29, 2024
CEA Wellesley Trust Leases 9843 Square Feet To The Vascular Care Group In Wellesley
981 Worcester St, Wellesley, MA, 02482
Building Size
9,843 SF
Asset Type
Medical Office
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 981 Worcester St, Wellesley, MA, 02482. It consists of a two-story, Class A office building totaling 28,120 square feet, with 9,843 square feet leased to The Vascular Care Group. The building features Route 9 visibility and frontage, signaled left-hand turn access, oversized windows, and 12-foot clear ceiling heights. The lease reflects a move toward converting the property to medical office use.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 981 Worcester St, Wellesley, MA, 02482
- Market: Wellesley
- Landlord: CEA Wellesley Trust
- Tenant: The Vascular Care Group
- Landlord's Representative: Daniel Krysiak - Newmark Knight Frank
- Square Feet: 9843
Dan Krysiak and Michael Greeley from Newmark represented the landlord, CEA Wellesley Trust, in this lease transaction. Michael Milano of Spinnaker Healthcare Advisors acted as an advisor to the tenant, The Vascular Care Group. This leasing follows a previous transaction where Newmark secured an 8,017-square-foot lease with Fresenius Kidney Care in 2020.
Players
Wellesley Medical Office Market Snapshot
Boundary boundary · Medical Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93