SANTA ANA, Calif., June 5 /PRNewswire-FirstCall/ -- Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition Nutfield Professional Center, a medical office building consisting of 22 office condominiums in the Manchester-suburb of Derry, N.H.
Located at 44 Birch Street, Nutfield Professional Center consists of approximately 70,000 square feet of gross leaseable area. Built in 1963, Nutfield Professional Center was renovated in 1990 and again in 1996. Nutfield Professional Center is master-leased to HCA Health Services of New Hampshire, Inc., a subsidiary of Hospital Corporation of America, Inc., one of the largest for-profit health systems in the United States.
"Nutfield Professional Center is a high quality asset located adjacent to Parkland Medical Center, an 86-bed regional acute care hospital also operated by HCA Health Services of New Hampshire, Inc. that is currently undergoing multiple facility and service enhancements," said Danny Prosky, Executive Vice President of Acquisitions for Grubb & Ellis Healthcare REIT. "Close proximity to a major regional hospital is extremely attractive for medical office buildings, making this acquisition a valuable addition to the Grubb & Ellis Healthcare REIT portfolio."
In 2006, Parkland Medical Center earned the Quality Respiratory Care Recognition award from the American Association for Respiratory Care as well as the Business of the Year award from the Greater Derry Chamber of Commerce.
Nutfield Professional Center offers 337 parking spaces for visitors and tenants and is located within close proximity to Highway 28.
Nutfield Professional Center was acquired from an unaffiliated third party. Grubb & Ellis Healthcare REIT financed the acquisition through utilization of its line of credit.
As of May 23, 2008, Grubb & Ellis Healthcare REIT has sold
approximately 33.6 million shares of its common stock, excluding the shares
issued under its distribution reinvestment pl
|SOURCE Grubb & Ellis Healthcare REIT|
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