On behalf of Tritower Financial Group, CBRE/New England today announced the sale of Amazon’s Robotics Headquarters building, which is strategically located 10 miles north of Boston, a short distance from universities such as MIT and Harvard as well as the engineering talent produced annually by these schools. The Amazon Robotics HQ at 300 Riverpark Drive in North Reading is the only facility in the world that designs, assembles and tests all proprietaryfulfillment robotics used by all Amazon distribution facilities. Today, the company is revolutionizing Amazon’s operations across the world.
CBRE/NE’s Dave Pergola and Brian Doherty represented the seller, Tritower Financial Group, and procured the buyer, a partnership between Lincoln Property Company, Ibdar Bank and Ritz Banc Group. The property traded hands for $45.1 million.
Tritower vastly improved the building resulting in a 35% increase in net operating income. Tritower added a 750-kilowatt solar array to the building’s roof and expanded the leasable area by 20,000 SF to accommodate Amazon Robotics’ rapid growth.
“We are very pleased with investment results of this asset. 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,” said Tod Brainard, Partner and Director of Acquisitions at Tritower.
About Tritower Financial Group, LLC
Tritower Financial Group, LLC is a private real estate investment and management firm whose principals have over 80 years of collective experience in commercial real estate investing throughout the United States. Founded in 2013, Tritower has purchased 12 separate real estate assets with a value in excess of $500 million in Metro Boston, Washington, DC and Denver. Over this time, we have successfully established a broad investor base that includes thousands of high net worth and institutional investors.
Tritower’s real estate investment strategy focuses on stable, income-generating assets with an emphasis on office, and industrial properties located in Boston, Washington and Denver. The Company pursues transactions both independently and through joint venture operating partners. Its objective is to provide favorable risk-adjusted returns through the acquisition of stable assets that deliver consistent, predictable dividends for its valued, high net worth investors.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.