Tritower Financial Group has closed on the disposition of the Amazon Robotics Headquarters building located 10 miles north of Boston. Trading for $45.1 million, the asset was acquired by a partnership of Lincoln Property Company, Ibdar Bank and Ritz Banc Group. The building at 300 Riverpark Drive in North Reading, is the only facility in the world that designs, assembles and tests all proprietary fulfillment robotics used by all Amazon distribution facilities. The seller updated the property by adding a 750-kilowatt solar array to the building’s roof and expanded the leasable area by 20,000 square feet to accommodate Amazon Robotics’ rapid growth. CBRE/New England’s Dave Pergola and Brian Doherty represented the seller. “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.
