Andover, MA – Newmark has announced the sale of 150 Minuteman Road, a premier Class A research and development facility in Andover, Massachusetts. The 112,148-square-foot asset was sold by BGO and acquired by Optimum Asset Management, with Newmark’s U.S. Capital Markets team leading the transaction.
The property, part of the expansive one-million-square-foot Minuteman Park campus, is fully leased to global medical technology firm Smith+Nephew, which has maintained tenancy since the building’s construction in 2002. Smith+Nephew has heavily invested in tailored upgrades, transforming the site into a specialized flagship R&D center.
“Smith+Nephew has invested significant capital into customizing and upgrading 150 Minuteman Road,” said Samantha Hallowell, Senior Managing Director at Newmark. “This has created a high-end R&D flagship for a committed tenant with a highly functional interior buildout and specialized equipment.”
The Newmark team representing the seller included Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, and William Sleeper, with financial analysis support from Grady Zink.
Optimum Asset Management sees the acquisition as a strategic addition to its growing presence in the Boston area.
“We are excited to add 150 Minuteman Road to Optimum’s greater Boston portfolio,” said Matthew Barry, CEO of Optimum Asset Management USA. “The property aligns with our strategy of acquiring best-in-class R&D facilities with durable in-place cashflow in established markets.”
Located directly off Interstate 93 and minutes from I-495, 150 Minuteman Road is situated just five miles from the New Hampshire border and 25 miles north of Boston, offering prime access and connectivity in one of the region’s top life science corridors.
