Bentall Kennedy Buys MA Office Asset

By IvyLee Rosario

150 Minuteman Road, Andover, Mass.

Bentall Kennedy has acquired 150 Minuteman Road in Andover, Mass. NKF Capital Markets arranged the sale on behalf of one of its clients. 

The 112,148-square-foot Class A office property is fully leased to Smith & Nephew, a global medical technology company, as the headquarters facility for its Advanced Surgical Devices division. The building is one of seven comprising Minuteman Park, a master-planned suburban campus totaling 1 million square feet. The campus offers onsite amenities within its newly renovated amenity center, including:

• full-service cafeteria
• coffee bar
• state-of-the-art fitness center
• game room and lounge

The NKF Capital Markets’ team was led by U.S. Head of Capital Markets, President, New England Area Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell. The Boston office oversaw the transaction in conjunction with Executive Managing Director Torin Taylor.

“150 Minuteman Road enjoys strong in-place income from Smith & Nephew, which has made a clear commitment to the property with plans to undertake a transformative renovation of its space,” said Pullen, in a prepared statement. “The asset also benefits from an exceptional location within Minuteman Park, which is an established headquarters location for a variety of medical device and technology manufacturers.”

Image courtesy of NKF Capital Markets