Photo courtesy of JLL.

A building that houses important outpatient care functions for Concord’s Emerson Hospital has sold for $23.3 million.

Concord Property Management sold the building to a joint venture of Celera Properties and AEW Capital Management.

Known as the Emerson Hospital Center for Specialty Care, the 46,350-square-foot medical office property sits at 54 Baker Ave, Extension in Concord and is highly visible from Route 2.

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Ben Sayles, Mike Restivo, Mindy Berman and Brannan Knott. JLL exclusively represented the seller and procured the buyer.

This 3-story asset has seen an outsized capital investment, JLL said in a statement, creating a highly specialized facility that has become a cornerstone for the delivery of care. Emerson Hospital occupies the entirety of the property on a long-term lease. The campus-adjacent center provides expert services for adults and children in the fields of cardiology, endocrinology, imaging, laboratory, nephrology, neurology, orthopedics, pain management and wound care.

Due to its success in maximizing the performance of the asset, the buyer has plans to retain the seller for property management services, according to JLL.