50 Minuteman Road
Update
07/25/23
Newmark Completes $58 Million Sale of 50 Minuteman Road and 6 Technology Drive in Andover, Massachusetts
Peakstone Realty Trust sells two fully leased Class A office/R&D buildings to Rhino Capital Advisors
Newmark announces the $58 million sale of 50 Minuteman Road and 6 Technology Drive, two fully leased Class A office/R&D buildings located 25 miles north of Boston in Andover, Massachusetts. 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. BLDUP first reported this transaction in early July.
Totaling 145,262 square feet, 50 Minuteman Road serves as the United States headquarters of Mercury, a leading provider of technology solutions for the aerospace and defense industry. Totaling 128,400 square feet, 6 Technology Drive serves as a design, development and manufacturing flagship for Dräger, a leading manufacturer of medical and safety technology products.
"50 Minuteman Road and 6 Technology Drive 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 Road and 6 Technology Drive are surrounded by more than two million square feet of existing and upcoming life science inventory. The assets further benefit from immediate highway access, situated off Interstate 93 and moments from Interstate 495.
