Broadcom Leases 60000 Square Feet At 100 Brickstone Square Andover From KS Partners
100 Brickstone Square, Andover, MA...
Building Size
60,000 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this transaction is located at 100 Brickstone Square in Andover, Massachusetts. The global technology firm Broadcom has signed a lease renewal for a total of 60,000 square feet of office space. The building was originally constructed in 1922 and has recently been updated through a capital improvement program that enhanced the property's amenities, including expanded café services, a fitness center, an onsite bistro, a game room, and a new outdoor patio and courtyard.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Square Feet: 60,000
- Address: 100 Brickstone Square, Andover, MA
- Market: Andover
- Tenant: Broadcom
- Landlord: KS Partners
- Tenant's Representative: John Wilson-Walker & Dunlop
- Landlord's Representatives: Blake Baldwin, Shayne O’Neil, and Petra Flynn
The lease negotiations involved representatives from both the tenant and landlord sides. John Wilson represented Broadcom as the tenant’s representative. The landlord, KS Partners, was represented by Blake Baldwin, Shayne O’Neil, and Petra Flynn. This collaboration facilitated the lease renewal process for Broadcom at this location.
Players
Andover Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93