Newmark Closes R&D Sale within Andover’s Minuteman Park

Newmark facilitated the sale of 150 Minuteman Rd., a Class A R&D asset in Andover, MA for a reported $26.4 million. Co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble, senior managing director Samantha Hallowell and associate director William Sleeper represented the seller, BGO, and procured the buyer, Optimum Asset Management. The Newmark team arranged the sale to BGO in 2018.

Totaling 112,148 square feet, 150 Minuteman Rd. is part of the six-building Minuteman Park, a one-million-square-foot, master-planned R&D campus, and is fully leased to global medical technology company Smith+Nephew. The tenant has occupied the property since its construction in 2002.

“Smith+Nephew has invested significant capital into customizing and upgrading 150 Minuteman Rd.,” said 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 provided support for the transaction

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