Bulfinch is pleased to announce the acquisition of 70 Hastings Street in Wellesley, a 25,994 square foot medical office building situated along the Route 9 corridor. The property is 95% leased, well-renovated, and strategically positioned in one of Greater Boston’s most sought-after suburban submarkets. This acquisition further strengthens our growing medical office portfolio, deepening our presence in the healthcare-focused assets and submarkets that have become a core part of our investment strategy. With a high-quality tenant base, strong in-place cash flow, and a clear value-add path, 70 Hastings is a natural fit for where we are focused as a firm.
A Well-Positioned Asset in a Premier Medical Corridor
Located at 70 Hastings Street in Wellesley, Massachusetts, this three-story medical office building sits on 1.2 acres along the heavily trafficked Route 9 corridor, one of Greater Boston’s premier addresses for healthcare and medical tenants. The property offers exceptional regional access, positioned less than nine miles from downtown Boston, approximately five miles from the Longwood Medical Area, and within minutes of Interstates 90 and 128/95.
The building is a well-appointed, move-in-ready asset that presents favorably for small to medium sized medical tenants, which represent the bulk of the tenant demand along Route 9. Among the building’s standout features is its power capacity. At 23 watts per square foot, the property offers well above-average electrical infrastructure suited to the demands of medical, tech, and innovation tenants that have increasingly come to prioritize power as a critical site selection criterion. We plan to implement additional strategic upgrades in the coming quarters to further strengthen the asset’s competitive positioning.
A Strong and Diverse Tenant Base
The property is 95% leased to six tenants representing a mix of established medical practitioners, healthcare-adjacent businesses, and professional services. Together they provide durable, near-term income with a weighted average lease term of 6.9 years. The anchor tenant, Exceptional Health (Karen T. Isselbacher, M.D.), offers a personalized concierge primary care practice with over 30 years of community presence. Other medical tenants in the building include VivaSkin Dermatology and Aesthetics Perla Pediatric Smiles, Ahn Point Wellness.
Why This Asset, Why Now
Our investment thesis centers on acquiring a renovated, well-occupied medical office asset in one of Greater Boston’s most sought-after suburban submarkets at a meaningful discount to replacement cost. The strategy is straightforward: collect secure in-place cash flow while creating additional value through lease-up and a continued focus on attracting high-quality medical users to the building. The 1,430 square feet of remaining vacancy represents an immediate opportunity, and the building’s location and infrastructure position it well to accommodate the growing demand from healthcare tenants along the Route 9 corridor.
This acquisition is consistent with our continued focus on medical office and healthcare-adjacent assets in strong suburban markets. The property’s prominent Route 9 positioning, proximity to major hospital systems, and quality tenant base make it well suited for continued occupancy growth and long-term value creation.
“70 Hastings is an excellent addition to our growing portfolio: a well-located medical office building with strong in-place tenancy and a clear path to create additional value. Wellesley is a core submarket that we know well, and this acquisition deepens our presence in a corridor that continues to attract some of the region’s best healthcare tenants. We’re excited to add this property to our portfolio.”
– Conor Brennan, Managing Director, Investments, Bulfinch
A Market Built for Healthcare Growth
Wellesley and the broader Metro West submarket have consistently been among the strongest performing office markets in Greater Boston, driven by a deep concentration of healthcare, life science, technology, and professional services employers. The Route 128/West submarket, which encompasses Wellesley, Waltham, Newton, Lexington, and Needham, has been a consistent destination for tenants seeking well-located, amenity-rich suburban space with strong highway access and proximity to Boston’s major medical institutions.
70 Hastings sits within a rich amenity ecosystem, with the Chestnut Hill Mall, The Street at Chestnut Hill, Wellesley Center, Linden Square and the Needham Street retail corridor all within a few miles. The location provides direct access to Route 9, the LMA Corridor, and is minutes from I-95 and I-90, making it easily accessible from across the region.
Explore Our Medical Office Portfolio
70 Hastings Street joins a growing medical office platform at Bulfinch. For healthcare tenants and practices exploring opportunities across the region, we also have availability at select properties well-suited to medical users.
5 Branch Street is a premier 94,325 RSF medical office building anchored by Dana-Farber Cancer Institute. As a regional outpatient flagship serving the Merrimack Valley and Southern New Hampshire, the facility provides patients with access to leading cancer and blood disorder treatments in a modern healthcare environment. Located at the intersection of I-93 and I-495 and within a 20-minute drive of five hospitals, the property offers outstanding accessibility, visibility, and monument signage. Suites ranging from 2,500 to 33,000 SF are currently available for lease.
54 Washington Street is a 9,000 square foot medical office building located on Wellesley’s highly visible Washington Street corridor. With convenient access to Route 16 and close proximity to Route 9 and Route 128, the property offers exceptional accessibility for both patients and providers. Situated within one of Wellesley’s premier professional and healthcare districts, the building provides an ideal setting for medical practices seeking a well-established location. A 6,774 SF medical office opportunity is currently available.
For leasing inquiries across any of our properties, click here!
About the author: Conor heads Bulfinch’s acquisitions team focusing on continued growth of the Bulfinch portfolio by sourcing, analyzing and executing value-added investment opportunities in Bulfinch’s core markets. Conor also provides strategic support for financing and asset management ensuring Bulfinch’s portfolio generates consistent and superior risk-adjusted returns over the long-run.