Milford medical offices sold for $5.9M
A Cape Cod man has purchased a medical office building in Milford for $5.85 million.
Deed records indicate that Sixteen Hundred Realty Trust, affiliated with Charles Zabra of East Sandwich, bought the building at 321 Fortune Blvd. on May 16 from Birchwood Fortune – SPVEF II LLC, an affiliate of Hall Royce LLC in Manchester-by-the-Sea.
The 44,605-square-foot building is fully occupied, Zabra said, with medical companies making up 90 percent of the roster. Tenants include MetroWest Physician Services, Beacon ABA Services and the Pain Specialists of New England.
Zabra, a real estate investor, said the quality of the location and the tenant mix made the site appealing. He had been eyeing the property for at least two months prior to the purchase.
“Medical services are going to be here to stay for quite a while,” he said.
The building was constructed in 1989 and consists of 15 units. It was sold in 2006 for $5 million.
Zabra said he also bought an office property in Franklin in mid-May.
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