NGKF Capital Markets completes $37m sale for Spear Street Capital

400 Minuteman Road - Andover, MA

Andover, MA NGKF Capital Markets has completed the sale of 400 Minuteman Rd. to Carter Validus Mission Critical REIT II, Inc. for $37 million. The NGKF Capital Markets Boston team led by U.S. head of capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and associate director Samantha Hallowell, in conjunction with Newmark Grubb Knight Frank executive managing director Torin Taylor, oversaw the transaction of the class A office building on behalf of Spear Street Capital.

Robert Griffin, Newmark Grubb Knight Frank

Encompassing a total of 153,000 s/f across two stories, 400 Minuteman Rd. is 100% leased to tenants Time Warner Cable and The Weather Company. The asset is one of seven buildings that comprise Minuteman Park, a one million s/f class A suburban office campus.

“400 Minuteman Road benefits from a ‘sticky’ tenant roster with Time Warner Cable operating a state-of-the-art data center at the property,” said Hallowell. “Additionally, it features exceptional positioning within a market-leading ‘super park’ with one of the most desirable corporate addresses in suburban Boston.”

Edward Maher, Newmark Grubb Knight Frank

By virtue of its location in Minuteman Park, 400 Minuteman Rd. benefits from campus amenities including two full-service cafeterias, a coffee bar, two fitness centers and a game room/lounge, all of which are undergoing renovation. Additionally, the building is located adjacent to I-93 with access to I-495.

Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.