Gordon Brothers, a global advisory, restructuring and investment firm, has purchased a 98,157-square-foot research and development building for $24.5 million in a joint venture with Ciminelli Real Estate Corp., a real estate services company.
The 7.11-acre property is located at 2 Edgewater Drive in Norwood, Mass. and features office and lab space, as well as research and development. Gordon Brothers looks to invest in value-add opportunities, including distressed, transitional and excess corporate real estate.
“Demand for research and development space in the Greater Boston area is at an all-time high,” comments Alyssa Coughlin, director of real estate at Gordon Brothers. “This latest acquisition furthers our shared commitment to investing in the growing suburban markets to meet this demand.