CB Richard Ellis/New England brokered the sale and leaseback of a 135,360-square-foot office building in Andover, Mass. for $20.3 million.
Dynamics Research Corp., an Andover-based technology company, sold the property to Direct Invest and then leased back the space. Dynamics Research has occupied the space for a number of years, according to a press statement.
Located on more than 17 acres of land, 60 Frontage Road is a three-story property that was fully leased to Dynamics Research at the time of sale. Built in 1986, the property recently underwent a total building renovation.
CB Richard Ellis/New England is a Boston-based joint venture of CB Richard Ellis and Whittier Partners Group with offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire.
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