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The statewide association for physicians and medical students has placed on the market a suburban office building that includes its headquarters and a large conference center.

The 24,000-member Massachusetts Medical Society is seeking to sell 860 Winter St. in Waltham, a 3-story, 200,270-square-foot building located in the office park overlooking the Cambridge reservoir west of Route 128.

JLL’s Boston office is marketing the property.

“This vacancy presents an exciting opportunity to take a premier 128 asset situated on the desirable Winter Street corridor back to stabilization through a variety of leasing programs,” according to JLL’s listing.

The 3-story building is located on a 28.2-acre parcel and includes a conference center and auditorium, cafeteria and fitness center and underground parking.

MMS originally acquired the property in 1999 for $3.8 million from Polaroid Corp., according to data compiled by The Warren Group, publisher of Banker & Tradesman.

MMS spokesman Thomas Flanagan said the organization has not finalized a relocation plan.

The Route 128 west submarket historically has been the most desirable suburban office cluster in Greater Boston, but hasn’t been immune to the sector’s broader post-pandemic woes.

The submarket, comprising 248 buildings totaling 22.8 million square feet, still commands the Boston suburbs’ highest asking rents, at $41.30 per square foot on a gross basis, according to a recent CBRE report.

But it had over 330,000 square feet of negative absorption during the first quarter, pushing vacancies up to 26.8 percent.