Andover Technology Park. Photo courtesy of CBRE

What: Andover Technology Park
Where: 300 and 600 Federal St., Andover
Owner: Celera Properties and True North Management Group
Built: 2022-2024

A 250,000-square-foot life science redevelopment at Andover Technology Park has secured four tenant leases for its initial phase.

Celera Properties and True North Management Group are repositioning the campus at 600 Federal St. A total of 42,000 square feet has been leased to Univercells and three undisclosed tenants, including two biotechs and an advanced manufacturing company, brokerage CBRE said.

In 2021, the developers received $38.3 million in financing from OceanFirst Bank for the office-to-lab-and-manufacturing conversion of two buildings at 300 and 600 Federal St.

The next phase of the 600 Federal Street project will be delivered this summer and will include two additional 10,000-square-foot market-ready lab suites as well as additional shell space.

They Said It:

“Ownership has done an amazing job delivering a first-class research environment, which truly accommodates the growing small to mid-size life science user. The campus at 600 Federal will provide growth for startups and established companies, as Andover continues to emerge as an innovation hub.”
— Dom Domoretsky, executive vice president, CBRE