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Andover Flex Property Sells for $26.25M

Nov 12, 2019 | Reprints | Unlock Link

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Image courtesy of JLL.

An Andover flex facility being used as an advanced research facility has sold for $26.25 million.

160 Dascomb Road is 100 percent leased to Lockheed Martin and Accu-Tech, a wholly-owned subsidiary of Anixter International on a long-term basis. The 125,609-square-foot building is easily accessed from Interstate 93 via Exit 42, providing a direct connection to downtown Boston and Southern New Hampshire. The property is just minutes from the I-495/I-93 intersection, too.

JLL exclusively represented the seller, a Condyne entity, procured the buyer, an affiliate of NorthBridge Partners and facilitated the $17.23 million in acquisition financing through Boston Private Bank.

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo. Lauren O’Neil and Jonathan Schneider exclusively represented the borrower.

B&T Daily