Newmark Capital Markets has successfully completed the sale of 150 Minuteman Road in Andover, Massachusetts to Bentall Kennedy on behalf of one of its clients. Led by U.S. Head of Capital Markets and President, New England Area Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell, the Newmark Capital Markets Boston office oversaw the transaction of the 112,148-square-foot Class A office building in conjunction with Newmark Capital Markets Executive Managing Director Torin Taylor.
150 Minuteman Road is fully leased to Smith & Nephew (NYSE: SNN), a global medical technology company, as the headquarters facility for its Advanced Surgical Devices division. The asset is one of seven buildings comprising Minuteman Park, a master-planned suburban campus totaling one million square feet of Class A space.
“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. “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.”
Corporate neighbors within Minuteman Park include Mercury Systems, NaviSite, Straumann USA, The Weather Company and Zwicker & Associates. The campus also features a newly renovated amenity center, which includes a full-service cafeteria, coffee bar, state-of-the-art fitness center, game room and lounge, and convenient access directly off Interstate 93.
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy (which includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates) serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy’s Investment Management group has approximately $47 billion (CAD)/$37 billion (USD) of assets under management (as of December 31, 2017). Bentall Kennedy is one of the largest real estate services providers in Canada, managing 60 million square feet on behalf of third-party and investment management clients (as of December 31, 2017). For more information, visit www.bentallkennedy.com.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, our strong foundation makes us one of the most trusted names in commercial real estate. We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark Group, Inc.
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