50 Minuteman Road. Photo courtesy of Newmark

Boston-based Rhino Capital Advisors paid $58 million to acquire an Andover campus leased to defense contractor Mercury Systems and medical equipment supplier Dräger.

The 100 percent-leased portfolio includes 50 Minuteman Road and 6 Technology Drive, comprising a combined 273,662 square feet of office and R&D space.

Newmark represented the seller, Peakstone Realty Trust, and procured the buyer.

“50 Minuteman Road and 6 Technology Drive benefit from irreplaceable on-campus locations within the premier life science cluster in Boston’s northern suburbs,” Newmark Vice Chairman Matthew Pullen said in a statement.

Defense contractor Mercury Systems leases the entire 145,262-square-foot 50 Minuteman Road for its U.S. headquarters. Dräger operates an R&D and manufacturing facility at the 128,400-square-foot 6 Technology Drive.

The purchase price equates to nearly $211 per square foot.

Rhino Capital Buys Andover Campus for $58M

by Steve Adams time to read: <1 min