Crest Collaborative Acquires Office Building In Andover, MA For $20.5M

The office property located at 20 Shattuck Road in Andover, MA has been sold in a transaction that took place on March 5, 2021. The property, spanning 130,000 square feet, was sold by Carruth Capital to the buyer, Crest Collaborative, for a total sale price of $20,500,000. With an area of 13.15 acres, the property was valued at $1,558,935 per acre. The price per square foot was calculated at $158. This transaction represents a significant deal in the Andover market.

Summary of transation details

• Property Type: Office
• Transaction Amount: $20,500,000
• Address: 20 Shattuck Road, Andover, MA
• Square Footage: 130,000
• Price per Square Foot: $158
• Acres: 13.15
• Price per Acre: $1,558,935
• Seller: Carruth Capital
• Buyer: Crest Collaborative

The Stubblebine Company, represented by David Stubblebine, James Stubblebine, and Micah Stubblebine, along with Brian McKenzie from CBRE, acted as the brokers in this transaction. Their expertise and effort played a crucial role in facilitating the successful completion of the deal. The involvement of these experienced individuals from reputable agencies further adds to the significance of this transaction in the Andover market.