400 Minuteman Road in Andover, Massachusetts has been acquired by Carter Validus Mission Critical REIT II, Inc. for $37 million. Totaling 153,000 square feet across two stories, 400 Minuteman Road is fully leased to national tenants Time Warner Cable and The Weather Company. The property is one of seven buildings that comprise Minuteman Park, a one million square foot Class A suburban office campus. Amenities include two full-service cafeterias, a coffee bar, two fitness centers and a game room/lounge, all of which are undergoing renovation. NGKF Capital Markets brokered the sale on behalf of the seller, Spear Street Capital.
“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 Associate Director Samantha Hallowell, NGKF. “Additionally, it features exceptional positioning within a market-leading ‘super park’ with one of the most desirable corporate addresses in suburban Boston.
