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McLaughlin Investments Arranges $5M Off-Market Buy of Office Complex in Andover
Burlington, MA-based McLaughlin Investments has brokered the off-market acquisition of an office complex in Andover, MA for $4.8 million.
McLaughlin Investment’s John McLaughlin served as buyer broker for Park Street Offices, LLC, while the seller, Springburn, was represented by Buck Property Management.
The buyer intends to reposition the asset and rebrand the complex into a mixed-use medical center by infusing $1 million in CAPEX and TI improvements to attract long term medical tenants.
Park Street Village Professional Center is a 28,383-square foot mixed use medical-office complex anchored by Beth Israel Deaconess Medical Center/APC (which holds expansion rights) and Karim Berty, MD, DMD. The center is centrally located within Andover Downtown Business District, abutting the municipal parking lot and within proximity to numerous regional hospitals, Merrimack College, Philips Academy, Andover Commuter Rail and routes 93 and 495.
- ◦Sale/Acquisition
