**Newmark Facilitates $26.4M Sale of R&D Asset at 150 Minuteman Road in Andover, MA**
Newmark has successfully arranged the $26.4 million sale of 150 Minuteman Road, a Class A research and development asset located in Andover, Massachusetts. The transaction was led by Robert Griffin, Co-Head of U.S. Capital Markets, along with Boston-based team members Edward Maher (Executive Vice Chairman), Matthew Pullen (Vice Chairman), James Tribble (Executive Managing Director), Samantha Hallowell (Senior Managing Director), and William Sleeper (Associate Director). The team represented the seller, BGO, and procured the buyer, Optimum Asset Management. Notably, Newmark also managed the prior sale of the property to BGO in 2018.
Encompassing 112,148 square feet, 150 Minuteman Road is part of Minuteman Park—a six-building, one-million-square-foot, master-planned R&D campus. The facility is fully leased to Smith+Nephew, a globally recognized medical technology company that has occupied the site since its development in 2002.
“Smith+Nephew has invested significant capital into customizing and upgrading 150 Minuteman Rd.,” said Samantha Hallowell. “This has created a high-end R&D flagship for a committed tenant with a highly functional interior buildout and specialized equipment.”
Newmark financial analyst Grady Zink also provided support for this transaction.
