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100 Brickstone Square, Ando...

Broadcom Leases 60000 Square Feet At 100 Brickstone Square Andover From KS Partners
LEASEDOffice

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

John Wilson

Walker & Dunlop

Broker

$121.4M

vol

6 deals

Broker
KP
KS PartnersLandlord

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