NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) today announced the execution of new and renewal leases totaling 44,279 square feet at Park Central in Norfolk, Virginia. AMR - Norfolk, formerly Clinical Research Associates, signed a new lease at the property. Virginia Ophthalmology Associates, P.C., Elite Women’s Care, P.C. and Robert M. Selden, Jr. D.D.S. signed renewal leases. Additionally, Atlantic Orthopaedic Specialists and Ear, Nose & Throat, Ltd. signed renewals and expanded their existing footprints.
Park Central is a 271,672 square foot medical office park which includes three multi-tenant medical office buildings located at 885 Kempsville Road, 6160 Kempsville Circle, and 6161 Kempsville Road in Norfolk. The buildings feature on-site management and are situated across from Sentara Leigh Hospital. Strategically positioned near the interchange of Interstate 64 and Interstate 264, Park Central provides easy access to all areas of Southside Hampton Roads, including Downtown Norfolk, Virginia Beach Oceanfront and Chesapeake. Tenants, their employees and patients have access to public transit with the Newtown Road station of The Tide light rail system only a mile from the property, as well as numerous dining, retail and hotel options in the area.
The property is owned by Diversified Healthcare Trust (Nasdaq: DHC) and managed by The RMR Group. The RMR Group is responsible for providing all aspects of management services and strategy for more than 1,400 properties with over 97 million square feet of medical office, life science, commercial office, industrial and retail space.
DHC was represented by Chris Kieran of Colliers International. AMR - Norfolk and Atlantic Orthopaedic Specialists were represented by John Profilet of S.L. Nusbaum Realty Co.
About The RMR Group Inc.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned operating subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of December 31, 2019, The RMR Group LLC had $32.2 billion of total assets under management, including more than 2,100 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
About Diversified Healthcare Trust
Diversified Healthcare Trust is a real estate investment trust (REIT) focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum: by care delivery and practice type, by scientific research disciplines, by property type and location. As of September 30, 2019, DHC’s $8.6 billion portfolio included more than 430 properties in 40 states and Washington, D.C., occupied by more than 600 tenants, and totaling more than 12.0 million square feet of medical office and life science properties and 32,000 living units. DHC is managed by the operating subsidiary of The RMR Group Inc. an alternative asset management company that is headquartered in Newton, MA. To learn more about DHC, visit www.dhcreit.com.