Gordon Brothers, the global advisory, restructuring and investment firm, has acquired a two-building portfolio in Wilmington, Mass., for $33.75 million as part of a joint venture with Ciminelli Real Estate Corp.
Located at 181 and 187 Ballardvale Street, the office properties sit on 15.38 acres and total approximately 210,945 square feet, which will be converted into research and development space.
This acquisition expands Gordon Brothers’ real estate investment platform, as well as the firm’s growing partnership with Ciminelli Real Estate, a Buffalo-based full-service commercial real estate firm. In November 2021, the firms entered their first joint venture and acquired 6 Riverside Drive, a value-add conversion to research and development in Andover, Mass.
“Ciminelli is a trusted partner and we’re thrilled to continue our relationship in Massachusetts with this value-add opportunity,” said Alyssa Coughlin, senior manager, real estate at Gordon Brother
