The private investment management firm Seavest Healthcare Properties revealed significant leasing activity by three healthcare providers at its two medical office buildings (MOBs) at Middletown Medical Complex in central Connecticut. The new tenants enhance the already broad scope of services provided at the five-building Middletown campus, which is sponsored by the nearby 275-bed Middlesex Hospital.
According to the White Plains, N.Y.-based Seavest, leases have been signed at 520 Saybrook Rd. by ProHealth Pediatric & Adolescent Medical Group, and at 540 Saybrook Rd. by Southern Connecticut Vascular Center (and Middlesex Hospital.
The three leases represent a total of 11,223 s/f, or 17.5% of the two-building, 64,000 s/f portfolio that Seavest Properties III, a healthcare real estate private equity investment fund, acquired in 2010.
"The addition of these respected pediatric/adolescent and vascular care providers and the increased activity of the hospital further expands the array of high-quality specialists, conveniently located at the Middletown Medical Complex," said Seavest's Malika Basheer, vice president and senior asset manager. A strategic outpatient location, Middlesex Hospital owns and operates surgery, outpatient and cancer centers at the complex.
"Middlesex Health System is a community-based not-for-profit healthcare network that is dedicated to the needs of Greater Middlesex County, Conn.," said Seavest senior managing director Jonathan Winer. "These recent leases confirm that Middletown Medical Complex is the location of choice for top-performing, high-quality medical providers in the Middletown area."
The hospital now leases more than 40% of the MOBs, with the remainder leased by multiple independent physician practices.