Hendrie Lane Capital, V12 Investments, and The Zaro Group acquired 3 & 6 Riverside Dr., a two-building, 170,771-square-foot research and development and advanced manufacturing portfolio in Andover, MA, for $43.5 million. The seller was Ciminelli Real Estate Corporation.

The properties are 100% leased to a roster of established research and development and advanced manufacturing companies.Three of the four tenants have made Riverside Drive their headquarters.

The transaction is the first under a new investment strategy at Hendrie Lane focused on R&D and advanced manufacturing properties in Greater Boston, the New York Tri-State Region, greater Washington, DC, the San Francisco Bay Area and North Carolina’s Research Triangle.

“Riverside Drive is exactly the kind of asset we built this strategy around: well-located, high-quality, well-maintained buildings, acquired at a significant discount to replacement cost and to historical market pricing, and leased long-term to time-tested tenants who have invested heavily in their space,” said Tony Calabrese, principal of Hendrie Lane.

JLL’s Scott Carpenter represented the seller. A JLL Capital Markets team of Andrew Gray, Hugh Doherty and Emily Fuller arranged $28.6 million in acquisition financing on behalf of the buyers from Washington Trust Bank.

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