The Biewend and Tupper Buildings in Boston, which are located on the Tufts Medical Center campus, have been sold for $112 million to ProMed Properties.
Both properties are 100 percent leased until 2017 to Tufts Medical Center, according to a statement. Biewend and Tupper were originally purchased as a sale-leaseback with Tufts in 2007.
The Biewend Building, located at 260 Tremont St., is a 14-story, 154,500-square-foot medical office building which houses numerous hospital outpatient services, including the New England Eye Center, Division of General Internal Medicine and the Adult Orthopedic Clinic. The Tupper Building, located at 15 Kneeland St., is a 14-story, 97,600-square-foot medical office building with 12 stories of laboratory space and two floors housing office space and the human resources department.
Phil Giunta and Anthony Biette of Grubb & Ellis Co. represented the seller, Daymark Realty Advisors, and procured the buyer.
"Boston’s medical office sector is one of the strongest in the nation due to the vast number of hospitals, teaching institutions and biomedical research labs in the city," said Mike Waddell, executive vice president, asset management, Grubb & Ellis. "Medical office properties in the central business district, particularly those situated on a hospital campus like Biewend and Tupper, have been more insulated from the economic downturn than properties located off-campus or in suburban locales."





