Salem Hospital buys Peabody building for $23 million | News
PEABODY — Salem Hospital has purchased a building on Centennial Drive in Peabody for $23 million and plans to continue its use as a home for several health care businesses.
A spokeswoman said the hospital decided to buy the building because it already leases a significant percentage of the space, and that is about to increase even more when a major tenant in the building joins the North Shore Physicians Group.
“With so much of the space leased by our combined services, it made sense to make an offer to buy the building and the owners accepted,” Salem Hospital spokeswoman Laura Fleming said in an email.
The building is located at 4 Centennial Drive in Centennial Park in Peabody. Current tenants include Salem Hospital, Spaulding Outpatient Center and North Shore Physicians Group, which are all part of parent company Mass General Brigham. Those organizations have rehabilitation, imaging and orthopedics/spine practices in the building.
Fleming said that New England Orthopedic Specialists, a private group that is also located in the building, is planning to join North Shore Physicians Group in May, which will increase the Mass General Brigham/Salem Hospital footprint in the building to more than 90%.
Fleming said all of the current services will remain in the building. She said no major changes are planned other than updating the signage.
Salem Hospital bought the building for $22.9 million on March 31 from Four Centennial Development LLC, based in Canton, according to Southern Essex District Registry of Deeds records.
Staff Writer Paul Leighton can be reached at 978-338-2535, by email at email@example.com, or on Twitter at @heardinbeverly.