QUINCY MA- Jumbo Capital Inc. announced the sale of Rivertech Park in Billerica for $85M.
The company purchased the flex research and development property along Route 3 for $45M in 2017, headquarter location of the parks Tenants Nuvera and Entegris. The sale reflects a near doubling in value of the asset for Jumbo in just 4 years. Griffith Properties takes ownership of the facility with several large, long-term tenants in place including Entegris and Nuvera.
Jumbo Capital Inc. also sold its 40 Robbie Rd property in Avon for $16.3M.
The 154,314sf single-story warehouse/distribution building is located on 8.87 acres within the Avon Industrial Park. The property was sold to Northbridge Partners Fund for $16.3 Million. The firm acquired the property for $9.23m in 2019 realizing more than $7m in increased value during the two years Jumbo held the asset.