Cushman & Wakefield and Lincoln Property Company Boston are pleased to announce that Physical Sciences Inc. has leased 33,000 square feet of R&D and office space at 6 Riverside Drive in Andover.
Executive Director Michael Dalton of Cushman & Wakefield represented Physical Sciences Inc., while Senior Vice President Rob Cronin and Vice President Ken Oppenheim of Lincoln Property Company represented the landlord, Q Investments.
"We are pleased to have represented ownership in this significant lease transaction bringing the building's occupancy to 100 percent," said Cronin. “This is an ideal site for Physical Sciences Inc. and we are pleased to accommodate their growth as they expand within Andover.”
PSI has its corporate headquarters at 20 New England Business Center, also in Andover. The lease at 6 Riverside Drive represents continued expansion of PSI’s Tactical Robotics Division, manufacturer of the InstantEye ® line of Small Unmanned Aerial Vehicles.
“This is a great win for all involved and special thanks to the Town of Andover who worked hard to make sure PSI stayed in Andover,” said Dalton. “It’s a great story given that PSI is developing innovative tools for our warfighters.”
6 Riverside Drive is a 77,048 SF flex building located in Andover, MA just minutes from I-93 and 495.
About Physical Sciences Inc.
PSI provides research and development services in technical areas to both government and commercial users. The lease at 6 Riverside Drive represents an expansion for PSI from its current corporate headquarters at 20 New England Business Center, also in Andover. https://www.psitactical.com/
About Lincoln Property Company
The Boston office of Lincoln Property Company, a national commercial real estate company, provides brokerage, property management, appraisal/valuation and development and project management services to a wide range of clients. In Massachusetts alone, Lincoln Property Company manages over 15 million square feet of commercial space and is responsible for leasing millions of square feet of space every year. For more information on Lincoln Property Company’s Boston office, visit: www.LPCBoston.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
