A 1 million-square-foot office park in Andover that’s attracted tenants in a wide range of industries from green power to investment services is headed to auction next month.
Paul E. Saperstein Co. Auctioneers & Appraisers scheduled a mortgagee’s sale of real estate on April 1 at Brickstone Square.
Set on a 39-acre site, the Brickstone Square complex includes four buildings ranging up to 413,000 square feet, an 862-space parking garage and 2,255 surface parking spaces.
A joint venture of Woburn-based KS Partners and Oaktree Capital Management of Los Angeles acquired the property in 2014 for $59.5 million.
The most recent financing of $70.9 million was issued in May 2021 by PCCP of Los Angeles, according to an Essex County mortgage.
KS Partners currently lists 28 office suites available totaling nearly 452,000 square feet available.
After the pandemic, owners updated common area amenities including a new café, game room, fitness center and outdoor courtyard. The property also includes a conference center and 375-seat cafeteria.
In 2021 and 2022, the property attracted 11 long-term leases totaling nearly 276,000 square feet, including a 60,000 square-foot renewal by Broadcom. New tenants ranged from employment agency ALKU to engineering, tax consulting, medical technology and IT services firms.
The complex is a former woolen mill converted into office and commercial space in the 1980s.




