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Nursing Home, Office Building Up for Grabs

LYNN, MA-A 77,000-sf former nursing home and an adjacent office building with an asking price of $2.7 million have been put on the market.

By Beverly Ford | Updated on February 06, 2007

LYNN, MA-A former nursing home and an adjacent office building have been put on the market in an open sales process. A broker involved in the transaction says the deal is expected to draw offers above the property’s $2.7-million asking price. CareOne, a New Jersey-based long-term care and assisted living provider, is the seller.

Jason Weissman, a principal with Boston Realty Advisors, tells GlobeSt.com that the properties, which total 96,000 sf, have already drawn the interest of a number of investors interested in converting the two buildings into apartments, condominiums or mixed-use facilities. “Every possible use has been suggested by investors and developers,” he says.

The properties are set on nearly two acres and comprised of a vacant 77,000-sf, three-story former nursing home at 70 Granite St. in Lynn and an adjacent, single-story 19,000-sf office property at 162-164 Boston St.

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