Andover Townsman, Andover, MA

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March 6, 2014

Brickstone Square complexfor sale

Historic site expected to net $75M

(Continued)

Wood, who at one time was among the richest people in the world, not only used the railroad line to deliver wool, but also to bring workers from Lawrence. The small train station on the property brought employees of the mills to and from work, Robb said.

“Wood was amazing,” Robb said. “He thought of everything.”

The three main buildings were used as mills until the 1950s, when the textile industry moved south. After that, Robb said, it became a site for small and large manufacturing companies, including Raytheon, which occupied much of the property until moving to its current location in West Andover. The coal-fired power plant as well as the dye shop have long since been torn down.

For a time in the 1990s, the property was occupied by CMGI, an Internet company that was huge during the early heyday of the dotcom-era.

When it was owned by Spagat, Robb said, the buildings were completely restored, Spagat was also known for erecting an enormous Christmas tree that could be seen from miles around.

In more recent years, the property has been used for town recycling drives and other civic events like the Feaster Five road race.

Since it was purchased by Pearlmark, formerly known as Transwestern Investment Co., the property has been well-maintained, Robb said.

“They keep the property up and do a nice job with landscaping,” he said. The company even built a parking garage on the property, he said.

Sayles said the three buildings are currently about 65 percent occupied with about 50 tenants, focused on technology, software, telecommunications, investment, financial services and professional services.

Major tenants include Genesis Healthcare, Unicare Life, WellPoint, Grumman and Bright Horizons, which has a day-care facility on the property. Sayles said the day-care center is used by employees of the facility, as is a huge cafeteria, a health club and a small convenience store.

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