Mark Roth, with Cushman & Wakefield's Boston office, tells GlobeSt.com that the building will serve as an expansion of the hospital's existing outpatient surgery and diagnostic testing center, located next door at 10 Research Pl., to give Lowell General a combined 84,644 sf for the facility, known as Lowell General at Drum Hill.
"We're seeing hospitals expanding and locating their facilities closer to the people they serve," says Roth, noting that Lowell General's newest location will allow the hospital to provide additional services at the Drum Hill Road exit just off Route 3.
Terms of the lease were not disclosed but Roth says similar space in the Chelmsford area leases in the $18 to $20 per sf price range.
The hospital will replace tenant Alcatel, a French telecommunications firm that recently moved to Waltham as part of the company's consolidation.
Roth, along with Richard Ruggiero, Torin Taylor and Ben Finnegan, all with Cushman & Wakefield, handled the lease negotiations for landlord 20 Research Place LLC. The tenant was advised by Fred Faust, with the Edge Group, of Lowell.
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