{"id":1004185963,"date":"2017-08-07T07:21:53","date_gmt":"2017-08-07T15:21:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185963"},"modified":"2022-12-08T10:05:54","modified_gmt":"2022-12-08T18:05:54","slug":"kbs-reit-trades-ma-office-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kbs-reit-trades-ma-office-facility\/","title":{"rendered":"KBS REIT Trades MA Office Facility"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004185964\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004185964\" data-attachment-id=\"1004185964\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kbs-reit-trades-ma-office-facility\/rivertech-park-mass\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Rivertech Park, Billerica, Mass.\" data-image-description=\"&lt;p&gt;Rivertech Park, Billerica, Mass.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rivertech Park, Billerica, Mass.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg?w=800\" class=\"wp-image-1004185964 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg\" alt=\"Rivertech Park, Billerica, Mass.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rivertech-Park-Mass..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004185964\" class=\"wp-caption-text\">Rivertech Park, Billerica, Mass.<\/p><\/div>\n<p>Rivertech Park, a two-building office\/R&amp;D property in Billerica, Mass., changed hands. The former owner is KBS Real Estate Investment Trust I, which bought the asset in 2008 for $42.2 million, according to PropertyShark data. The buyer is a joint venture between Jumbo Capital Management and Boston Andes Capital.<\/p>\n<p>Cushman &amp; Wakefield&#8217;s Managing Directors Brian Barnett and Steffen Panzone, together with Vice Chairman Peter Joseph, represented KBS in the deal.<\/p>\n<h2>In-demand\u00a0R&amp;D space<\/h2>\n<p>The asset is located on a 30-acre lot at 129 Concord Road, midway between two loops on Northwest Expressway. The two buildings offer 285,700 square feet of office and R&amp;D space and are fully leased on a long-term basis to two credit tenants, Entegris Inc. and Nuvera Fuel Cells.<\/p>\n<p>On the other side of Concord Road are several other corporations, including PAREXEL International and Boston Semi Equipment. Downtown Boston is approximately 20 miles from the facility.<\/p>\n<p>The town of Billerica has recently seen another transaction involving a <a href=\"https:\/\/www.commercialsearch.com\/news\/boston-area-lab-facility-changes-hands\/\">research facility<\/a>\u2014the $6.2 million sale of a building occupied by RainDance Technologies Inc.<\/p>\n<p><em>Image courtesy of KBS Realty<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jumbo Capital Management and Boston Andes Capital are the new owners of Rivertech Park, a two-building property located in Billerica, Mass.<\/p>\n","protected":false},"author":1064,"featured_media":1004185964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21752,21742,10],"tags":[37089,34896,35763,33159],"class_list":["post-1004185963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-mixed-use","category-latest","category-northeast","tag-boston-andes-capital","tag-cushman-wakefield","tag-jumbo-capital-management","tag-kbs-real-estate-investment-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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