News:
Owners Developers & Managers
Posted: November 22, 2019
Condyne completes $26.25 million sale to an affiliate of NorthBridge Partners - handled by Benedict, Sherry, Hawkins, Sayles and Restivo of JLL
Andover, MA JLL has arranged a $26.25 million sale and $17.23 million financing for 160 Dascomb Rd.
JLL exclusively represented the seller, a Condyne entity, procured the buyer, an affiliate of NorthBridge Partners and facilitated the acquisition financing through Boston Private Bank.
160 Dascomb Rd. is a 125,609 s/f advanced research facility that is 100% leased to Lockheed Martin and Accu-Tech, a wholly-owned subsidiary of Anixter International on a long-term basis. This offering represented an opportunity to acquire a highly functional and flexible asset with durable income and strong market positioning within Boston’s world-renowned “think belt.”
160 Dascomb Rd. is accessed from I-93 via Exit 42, providing a direct connection to downtown Boston and the skilled workforce in Southern New Hampshire. The property is also near the intersection of I-495 and I-93, providing access from all directions.
JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo. Lauren O’Neil and Jonathan Schneider exclusively represented the borrower.
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