JLL arranges $43.5 million sale of Andover, Massachusetts R&D properties
JLL•JLL arranged the $43.5 million sale of two flex R&D properties in Andover, Massachusetts. Hendrie Lane Capital and V12 Investments acquired the 171,764-square-foot campus, and JLL placed $28.61 million in acquisition financing through Washington Trust.
1. Sale and financing
Hendrie Lane Capital and V12 Investments acquired two flex R&D properties at 3 and 6 Riverside Drive in Andover, Massachusetts, from Ciminelli Real Estate Corporation and Gordon Brothers for $43.5 million. JLL also placed $28.61 million in acquisition financing through Washington Trust.
2. Property tenants
The 171,764-square-foot campus is fully leased to four tenants in advanced manufacturing and technology-related sectors.
