North Reading, MA – January 11, 2022 – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of 300 Riverpark Drive, a 228,921-square-foot R&D and industrial property located in North Reading, Massachusetts. The final sale price was $82,550,000.
Cushman & Wakefield’s Dave Pergola, Brian Doherty and Pete Rogers represented the sellers, Lincoln Property Company, the Ritz Banc Group and Ibdar Capital. Wheelock Street Capital and Camber Development acquired the asset.
The fully leased property is utilized as the corporate headquarters of a company that manufactures mobile robotic fulfilment systems and houses several mission critical operations, including product development and prototype manufacturing business lines.
“We are pleased to have found the right buyer for this exceptional investment opportunity,” said Pergola. “300 Riverpark Drive is a premier asset with state-of-the-art infrastructure and buildout, including clean energy supplied through rooftop solar and is a superb location for this company’s modern corporate and R&D headquarters.”
300 Riverpark Drive is situated on over 20 acres of land in a modern, master-planned corporate campus comprised of seven buildings. The asset features new lobby and office space, robust power and sewer capacity, multiple levels of mezzanine infrastructure and ample parking and loading spaces.
300 Riverpark Drive is located directly off Interstate 93, allowing direct access to the surrounding Boston and Cambridge areas.
Cushman & Wakefield Brokers Sale of Fully Leased, 228,921 SF R&D and Industrial Property
Jayden Lapin-Tatman • 1/11/2022
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.