Hendrie Lane Capital Acquires R&D Portfolio in Andover for $43.5 Million
Hendrie Lane Capital, along with V12 Investments and The Zaro Group, has acquired a two-building research and development (R&D) and advanced manufacturing portfolio at 3 & 6 Riverside Drive in Andover, Massachusetts, for $43.5 million. This marks Hendrie Lane's first investment under its new R&D and advanced manufacturing strategy targeting key innovation hubs across the U.S. The properties are fully leased to established tenants including Fishman, NEOLab, Physical Sciences Inc., and SciAps. The acquisition is backed by $28.6 million in financing arranged through JLL. Tony Calabrese of Hendrie Lane Capital highlighted that the portfolio offers long-term leases with high-quality tenants at a discount compared to replacement costs. He noted strong fundamentals for R&D real estate, including limited supply and rising demand driven by onshoring trends. The deal underscores growing institutional interest in specialized industrial assets as they offer stable cash flow and upside potential due to their scarcity and alignment with long-term economic shifts.
Topics: acquisition investment strategy R&D and advanced manufacturing real estate