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ewmark has facilitated the sale and financing of 23 Frontage Road, a 64,200-square-foot flex/R&D building in Andover, Massachusetts. The property was acquired by Rhino Capital Advisors LLC, highlighting renewed investor interest in repositioning opportunities across Greater Boston's suburban commercial real estate market.

    Located on 4.3 acres adjacent to Interstate 93 and within three miles of I-495, the two-story building is currently fully leased to a security technology company. Its strategic location places it at the center of one of the region's most active employment clusters for medical, life sciences, and technology manufacturing.

    Newmark's Capital Markets team represented the seller and sourced Rhino Capital Advisors as the buyer. "23 Frontage Road offers an exceptional re-leasing opportunity in Boston's northern suburbs," said William Sleeper. "The surrounding area is a desirable cluster for employers due to its access to labor pools across northern Massachusetts and southern New Hampshire."

    Newmark's Boston Debt & Structured Finance group secured acquisition financing on behalf of the buyer, positioning Rhino Capital Advisors to capitalize on the property's flexible layout, high visibility, and proximity to key regional transportation corridors. This transaction underscores a trend in Greater Boston's capital markets, where suburban assets with repositioning potential are gaining traction with investors as market fundamentals stabilize and pricing adjusts.