CBRE brokers sale of three-building Summer Street Medical Portfolio

Stamford, CT The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer, in collaboration with Brannan Knott and Chris Bodnar of CBRE’s U.S. Healthcare Capital Markets, represented the seller, Summer Street Properties, LLC in the sale of the Summer Street Medical Portfolio. CBRE also procured the buyer, Albany Road-Summer Street LLC, an entity managed by Albany Road Real Estate Partners. 

The 85% leased portfolio consists of three multi-tenant outpatient medical buildings located at 945, 999 and 1275 Summer St. The portfolio houses fifteen different synergistic medical specialties, including but not limited to Orthopedics & Sports, Pediatrics, OBGYN, Orthodontics, etc. The portfolio’s central location in the medical corridor of Stamford’s CBD, between Stamford Hospital and the Tully Medical Center, is accessible for doctors and patients alike. 

CBRE vice chairman Dunne said, “The Summer Street Medical Portfolio’s diversified tenant mix provides medical services in varied practices, at one location, to meet patient needs. This one stop convenience, coupled with the cosmetic capital upgrades planned by Albany Road, will be attractive to both medical practitioners and their patients, creating additional leasing velocity.”