SVN Parsons Completes $10M Sale of Industrial Building in Andover
SVN Parsons Commercial Group | Boston has sold a 60,000-square-foot industrial building on 4.71 acres at 7 Connector Road. The property sold for $10.35 million. Alex Berger and Matt Quinlan represented the seller, Stickamayka Group, LLC and procured the buyer, a joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate.
The building is ideally located within the established 93 North Industrial Market in Andover. Situated immediately off I-93, it offers easy access to all of Greater Boston and New Hampshire. The building contains eight loading docks with ramped drive-in, and will be available for lease in August 2022 for the first time in over 20 years.
“Oliver Street Capital and Bain Capital Real Estate were the perfect buyer for this asset as they continue to aggressively acquire buildings in Greater Boston. 7 Connector will be a great addition to their portfolio,” Berger said.