Gordon Bros. has acquired a 98,157-square-foot research and development building for $24.5 million in a joint venture with Ciminelli Real Estate Corp.
The 7.11-acre property at 2 Edgewater Drive in Norwood, Mass., features office and lab space, in addition to research and development.
“Demand for research and development space in the Greater Boston area is at an all-time high,” said Alyssa Coughlin, director, real estate, at Gordon Bros. “This latest acquisition furthers our shared commitment to investing in the growing suburban markets to meet this demand.”
“Our ongoing partnership with Gordon Bros. has allowed us to expand our research and development portfolio at a time of tremendous growth in the market,” added Ryan Zebro, vice president of investments at Ciminelli Real Estate Corp.
