Senior Housing Properties Trust Buying 549 Albany St in Boston for $49.5M

Newton, MA-based Senior Housing Properties Trust has entered into an agreement to acquire 549 Albany St in Boston, Mass. for $49.5 million.

Jessica Hughes and Matthew Sherry of Jones Lang LaSalle brokered the deal on behalf of the seller, Perkinelmer Health Sciences, Inc. The seller will continue to occupy the property after the closing under a 15-year, triple-net lease.

The asset consists of three contiguous office, laboratory and manufacturing buildings totaling 105,462 square feet with surface parking. Located in Boston’s South End and offering acess to Rt. 93, Mass Pike and Logan Airport, the properties serve as a mission critical manufacturing and distribution hub for PerkinElmer, Inc.’s life sciences product.

The inspection period for this acquisition runs through August 19, 2013. The buyer has the right to terminate this agreement by giving written notice prior to the expiration of the inspection period.