Marcus & Millichap Inc.
09/22/2025 | Press release | Distributed by Public on 09/23/2025 12:47
Marcus & Millichap Arranges $4.13M Sale of Three-Building Medical Office Park in Massachusetts
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Marcus & Millichap Arranges $4.13M Sale of Three-Building Medical Office Park in Massachusetts
September 22, 2025
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BOSTON, Sept. 18, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Hill Office Park, a three-building, 39,424-square-foot medical office park in Milford, Massachusetts. The asset sold for $4,125,000.
"This is the second time we've sold this medical office building since 2020. Closing this sale despite a 25% vacancy is indicative of the demand for medical focused space," said Harrison Klein, managing director investments in Marcus & Millichap's Boston office. "The buyer, a private family, reflects the current pool of investors for similarly sized office buildings in New England." Klein represented the seller, a private investor, and procured the buyer, a Worcester-based private investor.
Located at 113-117 Water Street, Hill Office Park is 76% occupied with 12 tenants across three buildings. Medical tenants include Milford Regional Medical Center (owned by UMass Medical), Metro West Oral Surgery and Asthma Allergy Physicians. Built in 1985, the property spans 3.48 acres with a parking ratio of 4.63 spaces per 1,000 square feet. The complex is less than three miles from Interstate 495 and less than a mile from Milford Regional Medical Center.
"This is the second time we've sold this medical office building since 2020. Closing this sale despite a 25% vacancy is indicative of the demand for medical focused space," said Harrison Klein, managing director investments in Marcus & Millichap's Boston office. "The buyer, a private family, reflects the current pool of investors for similarly sized office buildings in New England." Klein represented the seller, a private investor, and procured the buyer, a Worcester-based private investor.
Located at 113-117 Water Street, Hill Office Park is 76% occupied with 12 tenants across three buildings. Medical tenants include Milford Regional Medical Center (owned by UMass Medical), Metro West Oral Surgery and Asthma Allergy Physicians. Built in 1985, the property spans 3.48 acres with a parking ratio of 4.63 spaces per 1,000 square feet. The complex is less than three miles from Interstate 495 and less than a mile from Milford Regional Medical Center.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on September 22, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 23, 2025 at 18:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]