Healthcare Groups Make $6M in Suburb Buys

CANTON, MA-The healthcare industry is providing more good medicine for the South Shore’s commercial real estate market following the $5.1 million purchase of 85 Dan Rd. by a group affiliated with Organogenesis, a firm focused on treatment of the skin. The seller of the vacant 80,000 sf flex/R&D building is an affiliate of Alpharetta, GA-based iStar Financial Corp.

The transaction in the Canton Corporate Center occurred just prior to the sale of a red-brick office building in Weymouth to a medical practice that will occupy the 5,500-sf structure. Physicians David Blaustein and Stephen Koelbel paid $815,000 for the two-story building located off Route 18 at 15 Winter Ct.

“Route 18 in Weymouth is becoming the medical corridor of the South Shore,” says Cushman & Wakefield senior director J.P, Plunkett, who orchestrated both deals for the sellers along with C&W senior director Catherine Minnerly. C&W associate Jason Bryer assisted in the Weymouth sale, while Christopher Griffin of C&W’s Middle Markets Group joined in helping iStar Financial peddle 85 Dan Rd. DTZ FHO Partners principal Sean Teague handled negotiations for the buyers of that asset, 85 Dan Rd. Associates LLC. Organogenesis CEO Geoff MacKay is listed as a director of the LLC along with other company officials.