Andover Business - Brickstone Square
From Andover Answers
The office complexes known as Brickstone Square are located at 100 Brickstone Square near York and Haverhill streets. On November 28, 2005, the 1 million square-foot property was purchased by a private equity firm called Transwestern Investment Co. LLC. Transwestern's CEO is Stephen Quazzo.
In 2005, the property was valued at about $68 million by the Andover Assessor's office. The space is comprised of 2 six-story office buildings, a 10-story office building, a day-care center, a warehouse and an 862-space parking garage. It is home to over 50 tenant companies, including Northrop Grumman, Unicare and Richard D. Kimball Co.
Transwestern normally buys a property, makes property improvements and sells it to the next buyer within a five year period. For Brickstone, proposed upgrades include improvements to elevators, HVAC and electrical systems, common areas, restrooms and landscaping.
Transwestern acquired Brickstone Square through an investment partnership with Aslan Realty Partners III, LLC. They want to attract new, high profile tenants to the space. In the years leading up to 2005, Brickstone lost two of its most notable tenants: Agilent Technologies Inc. and CMGI.
- "Brickstone Square sold to Chicago firm", Eagle Tribune, December 13, 2005.
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--Jen 12:05, August 20, 2010 (EST)