Cushman & Wakefield today announced the completion of a 9,030 square foot office lease at 3 Edgewater Drive, a 50,000 square foot office complex in Norwood, Massachusetts. The transaction will enable the tenant, LCB Senior Living, LLC (www.lcbseniorliving.com) , to relocate its existing headquarters from River Ridge Drive in Norwood beginning May 1, 2013. Cushman & Wakefield’s Peter Whoriskey and Mike Frisoli represented LCB Senior Living in the transaction. The Landlord is E&F Realty Associates.
LCB Senior Living is a senior housing developer and operator founded in 2010 by the management team of the former Newton Senior Living, LLC (NSL). NSL, which was one of the first assisted living developers and operators in Massachusetts, developed nine residences in New England, acquired an additional 12 properties, and managed 6 third-party residences in 8 states throughout the Eastern Seaboard. It was the 16th-largest assisted living company in the nation—with 2,700 units of senior housing and more than 1,600 associates—when it was sold to Lazard Freres in 2005.
LCB currently owns the Arbors of Bedford in Bedford, NH, and manages two third-party assisted living facilities: Traditions of Wayland and Traditions of Dedham. The company is scheduled to break ground on the construction of four new projects comprising approximately 320 assisted, independent and memory impairment units in 2013.