Boston, MA — NKF Capital Markets has successfully completed the sale of 150 Minuteman Road in Andover, Massachusetts to Bentall Kennedy on behalf of one of its clients.
Led by U.S. Head of Capital Markets and President, New England Area Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell, the NKF Capital Markets Boston office oversaw the transaction of the 112,148-square-foot Class A office building in conjunction with NKF Capital Markets Executive Managing Director Torin Taylor.
150 Minuteman Road is fully leased to Smith & Nephew (NYSE: SNN), a global medical technology company, as the headquarters facility for its Advanced Surgical Devices division. The asset is one of seven buildings comprising Minuteman Park, a master-planned suburban campus totaling one million square feet of Class A space.
“150 Minuteman Road enjoys strong in-place income from Smith & Nephew, which has made a clear commitment to the property with plans to undertake a transformative renovation of its space,” said Pullen. “The asset also benefits from an exceptional location within Minuteman Park, which is an established headquarters location for a variety of medical device and technology manufacturers.”
Corporate neighbors within Minuteman Park include Mercury Systems, NaviSite, Straumann USA, The Weather Company and Zwicker & Associates. The campus also features a newly renovated amenity center, which includes a full-service cafeteria, coffee bar, state-of-the-art fitness center, game room and lounge, and convenient access directly off Interstate 93.
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy (which includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates) serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S.