Hendrie Lane Capital, V12 Investments and The Zaro Group announced the acquisition of 3 & 6 Riverside Drive, a two-building, 170,771-square-foot research and development and advanced manufacturing portfolio set on 16 acres in Andover, Mass., for $43.5 million. The seller was Ciminelli Real Estate Corp.
The properties are 100 percent leased to a roster of established research and development and advanced manufacturing companies, including Fishman, maker of the renowned Fishman line of acoustic guitar amplifiers and pickups; NEOLab; Physical Sciences, Inc.; and SciAps. Three of the four tenants have made Riverside Drive their headquarters. The transaction is the first under a new investment strategy at Hendrie Lane focused on R&D and advanced manufacturing properties in greater Boston, the New York Tri-State Region, greater Washington, D.C., the San Francisco Bay Area and North Carolina’s Research Triangle.
“Riverside Drive is exactly the kind of asset we bui
