Peakstone Realty Trust Sells Andover Class A Office Buildings for $58M

Peakstone Realty Trust recently sold two fully leased Class A office/R&D buildings in Andover, Massachusetts for $58 million to Rhino Capital Advisors. The properties, 50 Minuteman Road and 6 Technology Drive, totaled 145,262 square feet and 128,400 square feet respectively. They are headquarters for technology firms Mercury and Dräger.
Newmark’s Boston Capital Markets Group represented the seller in facilitating the purchase with a team led by Robert Griffin, Edward Maher ,Matthew Pullen and Samantha Hallowell.
Pullen commented on the sale: “50 Minuteman Road & 6 Technology Drive benefit from their irreplaceable on-campus locations within Boston’s northern suburbs premier life science cluster.” He further noted that each asset is 100% leased as a mission-critical facility for global technology firms with high quality base building infrastructure & first class interior buildouts.