Dana-Farber Cancer Institute will anchor a medical office building conversion project planned by Boston-based developer Marcus Partners in Methuen.

The institute will open a cancer and blood disorder care and outpatient center for Merrimack Valley patients at 5 Branch St. following a capital improvement plan by Marcus Partners. Dana-Farber will occupy approximately half of the 94,125-square-foot building.

Marcus Partners said the project reflects its strategy of increasing partnerships with Greater Boston medical and research institutions. The firm’s current $250 million fund invests in office, medical office, research and development, multifamily, warehouse and industrial properties.

“We believe Dana-Farber’s investment and presence here, combined with our planned transformation, will attract other quality medical providers to the building, creating a regional center of excellence unlike anything that exists today in the Merrimack Valley,” Ryan McDonough, Marcus Partners’ Boston regional director, said in a statement.