Former Colonial Nursing Center in MA to be converted to apartments
JLL Capital Markets completed the property sale, plans to convert to workforce housing
DALLAS, March 2, 2021 – JLL Capital Markets announced today it closed the sale of the former Colonial Nursing Center in Weymouth, Massachusetts. The buyer plans to convert the property to a workforce housing asset.
Located at 125 Broad St., the property sits on 2.11 acres and totals 72,999 square feet. The current layout includes 93 units with various amenities, including a commercial kitchen, dining room, activity areas, outdoor courtyard, common gathering areas and outdoor walking trails. Given the attractiveness of the location, the buyer has ample opportunity to convert the property into a multi-housing asset within a key, coastal suburb just south of Boston.
The transit-orientated property is also in close proximity to various public transportation lines, Route I-93 and Route 3, providing direct access to downtown Boston and Cape Cod.
The JLL Capital Markets team representing the seller was led by Jason Skalko, Zach Rigby, Brannan Knott and CJ Kodani.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.