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Boston & New England  + Office  |  January 30, 2020
Paul Bubny
By: Paul Bubny

Dräger Medical HQ in Andover Trades to CIM-Sponsored REIT

NKF completed the $26-million sale of 6 Technology Dr. in Andover, MA on behalf of sellers Novaya Real Estate Ventures and Wheelock Street Capital. The buyer of the flex/manufacturing facility, which serves as the North American headquarters of Dräger Medical Systems, wasn’t disclosed. Separately, CIM Group said its CCIT II non-listed REIT had acquired the property in Boston’s northern suburbs.

An NKF team of Edward Maher, Matthew Pullen,  James Tribble and Samantha Hallowell oversaw the transaction.

Totaling 128,400 square feet, 6 Technology Dr. is fully leased to Dräger Medical Systems, a division of global medical and safety technology company Dräger.

“6 Technology Dr. has served as a mission-critical facility for Dräger Medical Systems for nearly 15 years,” said Pullen. “The tenant is currently undertaking a full modernization of the property including office, common area, amenity, exterior/entryway and base building upgrades.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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