The 228,921-square-foot robotics research hub for Amazon’s warehouses has been sold by Tritower Financial Group

The 228,921-square-foot robotics research hub for Amazon’s warehouses has been sold by Tritower Financial Group of Boston to a partnership of Lincoln Property Co., Ibdar Bank and Ritz Banc Group.

During Tritower’s ownership, a 750-kilowatt rooftop solar array was installed and leaseable area was expanded by 20,000 square feet. The property at 300 Riverpark Drive in North Reading, where Amazon designs and tests robotic equipment used in its distribution facilities, previously sold in 2013 for $32.25 million. Amazon acquired North Reading-based robotics company Kiva Systems in 2012 for $775 million.

CBRE/NE’s Dave Pergola and Brian Doherty represented Tritower and procured the buyers in the latest transaction which closed Oct. 5.

“By taking a value-added approach to this single-tenant, net-leased asset, we were able to generate excellent returns for our investors while providing green energy and additional space for Amazon Robotics to continue its revolutionary advancement in warehouse robotics,” Tod Brainard, partner and director of acquisitions at Tritower, said in a statement.

Blue Hills Bank provided $27 million in mortgage financing.

Developer Sells Amazon Robotics HQ for $45.1M

by Steve Adams time to read: 1 min
0