Christopher LorenceDeveloper Michael E. Lundy will acquire the CANI Spine Center and Sports Physical Therapy on outer Washington Street in early May.

WATERTOWN — Local developer Michael E. Lundy will soon own the CANI Spine Center and Sports Physical Therapy on outer Washington Street and merge it with the Washington Summit Medical and Professional Complex.

Physical therapist and property owner James F. Pemberton plans to transfer the 39,000-square-foot CANI building, 19472 Route 11, and 11 acres to one of Mr. Lundy’s firms, Washington Summit Associates, in early May, concluding about 18 months of negotiations, according to a news release.

“I really wasn’t looking to sell the property or building, but as I talked to Mike and I heard more about his plans for further development options, I felt that maybe the timing might be right,” Mr. Pemberton said in a statement. “CANI Spine Center and Sports Physical Therapy will be staying right where we are and continuing to serve our patients while looking forward to the new growth Mike has planned.”

The developer already has unspecified tenants for the complex, including tenants previously planing to move into the Medical Arts Building property on Clinton Street, he said in a statement.

“The CANI Building and property was too good an opportunity to pass up and is actually why I put the Clinton Street renovation project on hold,” Mr. Lundy said. “Several of the prospective tenants I had discussed moving into Clinton Street will now be relocating to CANI after we complete renovations to that facility.”

Johnson Newspapers 7.1

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