Gordon Brothers has acquired a 98,157-square-foot research and development building for $24.5 million in a joint venture with Ciminelli Real Estate Corporation.
 
The 7.11-acre property at 2 Edgewater Drive in Norwood, Massachusetts 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 Brothers. “This latest acquisition furthers our shared commitment to investing in the growing suburban markets to meet this demand.”
 
“Our ongoing partnership with Gordon Brothers has allowed us to expand our research and development portfolio at a time of tremendous growth in the market,” said Ryan Zebro, Vice President of Investments at Ciminelli Real Estate Corporation. “We look forward to identifying additional opportunities in Massachusetts as we continue our work together.”  
 
Gordon Brothers invests in compelling value-add opportunities, including distressed, transitional and excess corporate real estate. The firm offers various equity strategies, including asset acquisitions, joint venture equity investments and sale leasebacks. Gordon Brothers offers various debt strategies to owners as well, including senior loans, bridge loans and secondary financing.
 
In addition to its real estate investment platform, Gordon Brothers offers a variety of real estate services such as lease restructuring and termination, lease renewals, site selection, in-house real estate department augmentation, portfolio reviews and the sale of real estate.