Industrial property

Cushman & Wakefield Brokers Sale of Fully Leased R&D and Industrial Property for $82.55 Million

300 Riverpark Drive

North Reading, MA – Cushman & Wakefield announced that the real estate services company has arranged the sale of 300 Riverpark Drive, a 228,921 square foot industrial and R&D property located in North Reading, Massachusetts. The final sale price was $82,550,000.

Dave Pergola, Brian Doherty and Pete Rogers of Cushman & Wakefield represented the sellers, Lincoln Property Company, Ritz Banc Group and Ibdar Capital. Wheelock Street Capital and Camber Development acquired the asset.

The fully leased property is used as the headquarters of a company that manufactures mobile robotic execution systems and houses several mission-critical operations, including product development and prototype manufacturing business areas.

“We are delighted to have found the right buyer for this outstanding investment opportunity,” said Pergola. “300 Riverpark Drive is a prime asset with state-of-the-art infrastructure and construction, including clean energy provided by rooftop solar and is a superb location for corporate headquarters and of modern R&D of this company.”

300 Riverpark Drive is located on over 20 acres of land in a modern, planned corporate campus consisting of seven buildings. The asset includes a new lobby and office space, robust power and sewer capacity, multiple levels of mezzanine infrastructure, and ample parking and cargo space.

300 Riverpark Drive is located directly off Interstate 93, allowing direct access to the surrounding areas of Boston and Cambridge.

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