N
ewmark has announced the sale of 150 Minuteman Road, a top-tier research and development facility in Andover, Massachusetts. The 112,148-square-foot asset was sold by BGO to Optimum Asset Management, with Newmark's U.S. Capital Markets team handling the transaction.
The property, part of the one-million-square-foot Minuteman Park campus, is fully leased to Smith+Nephew, a global medical technology firm that has occupied the building since its construction in 2002. Smith+Nephew has invested heavily in customized upgrades, transforming the site into a specialized flagship R&D center.
"This property offers a high-end research and development space with a highly functional interior buildout and specialized equipment," said Samantha Hallowell, Senior Managing Director at Newmark. "Smith+Nephew's significant investment has created a unique asset that is well-positioned for long-term success."
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 our 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 cash flow in established markets."
Located near Interstate 93 and minutes from I-495, 150 Minuteman Road offers prime access and connectivity in one of the region's top life science corridors.
