10 & 55 Technology Dr., Lowell sold for $10.5 million

January 30, 2012 News

A pair of office and research & development buildings at 10 & 55 Technology Drive in Lowell, Mass., have been sold to Novaya Real Estate Ventures for $10.5 million.

Most of the space in the buildings is occupied by Siemens and C.R. Bard. The two office/R&D buildings total about 146,696 square feet and are located at the entrance to Drum Hill Technology Center, near Route 3 and within five miles of the I-495 interchange.

Constructed in 1984, 10 Technology Drive is a two-story, 57,692-square-foot office/R&D building on 5.5 acres. Built a year later, 55 Technology Drive is a two-story, 89,004 square foot office/R&D building on over seven acres. In addition to Siemens and C.R. Bard, Drum Hill Technology Center is home to he U.S. Environmental Protection Agency and Microsemi Corp.

CB Richard Ellis team of Matt Pullen, Mark Reardon, Bill Moylan and Kevin Huther represented the seller, Nordblom Co. and procured the buyer.