Concord, MA – March 27, 2013 – Normandy Real Estate Partners, a leading real estate operator and fund manager, today announced that it has signed Emerson Hospital to an 80,785 square foot lease at 300 Baker Avenue in Concord, Massachusetts. A full-service, non-profit community hospital with over 300 active primary care doctors and specialists on staff, Emerson Hospital renewed its existing 44,757 square foot lease of office space, and signed for an additional 36,028 square feet of office expansion, bringing the building occupancy to nearly 80 percent.
“We are pleased that Emerson Hospital has expanded its operations at 300 Baker Avenue, a unique property that has served them well for many years,” said Mark Roopenian, Senior Vice President at Normandy Real Estate Partners. “300 Baker Avenue boasts wonderful amenities including a full-service cafeteria, fully equipped fitness center and a common conference facility that our tenant Emerson has appreciated and utilized since their first day in the building. We look forward to their continued stay and expansion here in Concord.”
Cassidy Turley Senior Managing Director, Principal Duncan Gratton and Associate Kate McGovern represented Normandy in the transaction. Jack Kerrigan and Steve Cook of Avison Young represented the tenant, Emerson Hospital. “Normandy’s commitment to maintain the site’s amenities and continuously look for new upgrade opportunities is what helps prolong the duration of tenant occupancies at their properties. It was a great pleasure to assist in Emerson Hospital’s lease renewal and expansion,” said Gratton.
The 300 Baker Avenue property is a first-class office and research complex situated on 78 acres of land. Located in the Route 128 sub-market, the site also provides plenty of parking and a “park-like” environment for leisure. Normandy has recently completed multi-million dollar renovations to the property, including upgrades to the cafeteria and fitness center along with landscaping, signage and other common area enhancements.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City, Los Angeles and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy’s existing portfolio includes over 15 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, Los Angeles, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.