New England tech co. sells office space

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.

***

What's your opinion? Send your Letter to the Editor to opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.