Jun
15
Cummings Completes First Acquisition in Andover
ByThe company acquired the Class A office/R&D building for $12 million. The property is 71 percent occupied by a diverse roster of tenants.
Boston Properties announced the disposition of one of its Essex County properties, located at 40 Shattuck Road in Andover, Mass. The buyer was Cummings Properties, which made its first purchase in the area. According to public records, the Class A asset traded for $12 million, marking the building’s first sale.
“We have been seeking an investment-grade property for our employee equity program, and 40 Shattuck offered a good value for an extremely well-built and well-maintained building within a thriving business cluster,” Cummings Properties President & CEO Dennis Clarke said in a prepared statement…
