News: Front Section

Ciminelli Real Estate and Gordon Brothers acquire 151,564 s/f property in Billerica, MA for $18.2 million

880 Technology Park Drive - Billerica, MA

Billerica, MA Ciminelli Real Estate Corp., in a joint venture with Boston-based Gordon Brothers, has acquired a 151,564 s/f research and development building for $18.2 million.

Located at 880 Technology Park Dr., the property brings Ciminelli’s Boston area portfolio to 10 buildings, totaling 830,000 s/f. This latest acquisition comes just months after the joint venture partners’ purchase of 2 Edgewater in Norwood, Mass., for $24.5 million. Ciminelli intends to reposition these properties to better meet the demand for highly sought-after research and development space in the Greater Boston market.

Ryan Zebro

“Our team’s collective experience and current market trends in Boston have allowed for a unique opportunity to create value through acquisition and repositioning. We believe 880 Technology Park Dr. is well-positioned to meet the demand for research and development space in the market,” said Ryan Zebro, vice president of investments at Ciminelli. “We look forward to continuing our strong, tenant-focused strategy to provide state-of-the-art space where it’s needed most.”

MORE FROM Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.