July 11, 2018
The Xchange at Bedford, a 479,000-square-foot creative R&D and life science campus near Boston, has traded hands for $107.75 million. The buying partnership included Jumbo Capital Management, and Sound Mark Partners, while the seller was The Davis Companies.
The Davis Companies’ Matt Katz says, “Working closely with Gensler Architects to reimagine the park, we dramatically improved the overall image of the property and the individual buildings, as well as the sense of community for the tenants.”
The eight-building, state-of-the-art technology campus is situated near amenity-rich Burlington, at Route 3 and near Route 128. The Xchange was 89% leased to five tenants, and anchored by iRobot’s 272,000-square-foot long-term lease. iRobot has expanded by nearly 89,000 square feet in the last three years and, in 2017, extended its term through April 2030.
JLL’s Frank Petz and Matthew Sherry represented the seller.
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