Updated Oct 29, 2024
Alexandria Real Estate Equities Acquires Property In Andover For $190 Million
3000 Minuteman Rd, Andover, MA, 01...
$190,000,000
$292/SF
Building Size
650,000 SF
Asset Type
Office
Closing
Jan 19, 2022
About this deal
AI
The property located at 3000 Minuteman Rd, Andover, MA, is a commercial asset with a total square footage of 650,000. The property has been transacted at a price of $190,000,000. The market for this asset is Andover, emphasizing its relevance in the local real estate environment.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $190,000,000.00
- Address: 3000 Minuteman Rd, Andover, MA
- Square Footage: 650,000
- Market: Andover
- Seller's Representative: Matthew (Matt) Pullen, Edward Maher - Newmark
- Buyer: Alexandria Real Estate Equities
This transaction involved key representatives from Newmark, Matthew (Matt) Pullen and Edward Maher, who represented the seller. Alexandria Real Estate Equities acted as the buyer, completing the transaction in the Andover market.
Players
Andover Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93