Thomas Park Investments JV completes acquisition of Reliant Healthcare Southborough in Massachusetts
Thomas Park Investments and its equity partner announced the acquisition of Reliant Health Southborough, an outpatient medical campus totaling 125,000 square feet in Southborough, Mass. JLL represented the joint venture.
Located at 24-32 Newton St., the medical campus is comprised of a main building and an outpatient auxiliary annex. The new ownership is set to invest in building renovations to modernize the facility. Thomas Park successfully renegotiated a 97,000-square-foot lease extension with anchor tenant Reliant Medical Group, solidifying the property’s stability and the investments long-term value proposition.
The outpatient medical center is anchored by Reliant Medical Group, UMass Memorial and Walgreens and has a strong compliment of healthcare specialties across the spectrum from primary care and dermatology to orthopedic and cardiovascular surgery.
The campus is in Southborough, a suburb of Boston and an affluent submarket with a dated supply of