News: Front Section
Posted: August 11, 2023
Newmark completes $58 million sale of two buildings totaling 273,662 s/f
Andover, MA Newmark announces the $58 million sale of 50 Minuteman Rd. and 6 Technology Dr., two fully leased class A office/R&D buildings located 25 miles north of Boston. Newmark co-head of U.S. Capital Markets Robert Griffin, executive vice chairman Edward Maher, vice chairman Matthew Pullen and senior managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Peakstone Realty Trust, and procured the buyer, Rhino Capital Advisors.
Totaling 145,262 s/f, 50 Minuteman Rd. serves as the United States headquarters of Mercury, a leading provider of technology solutions for the aerospace and defense industry. Totaling 128,400 s/f, 6 Technology Dr. serves as a design, development and manufacturing flagship for Dräger, a leading manufacturer of medical and safety technology products.
“50 Minuteman Rd. and 6 Technology Dr. benefit from irreplaceable on-campus locations within the premier life science cluster in Boston’s northern suburbs,” said Pullen. “Presently, each asset is 100% leased as a mission-critical facility for a global technology firm with high-quality base building infrastructure and a first-class interior buildout.”
50 Minuteman Rd. and 6 Technology Dr. are surrounded by more than two million s/f of existing and upcoming life science inventory. The assets further benefit from immediate highway access, situated off I-93 and moments from I-495.
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