Warehouse robotics leader expands footprint in Wilmington
Boston – October 24, 2016 – CBRE/New England announced that Locus Robotics, a leader in the development and evolution of warehouse automation, expanded their footprint to 45,872 square feet at 301 Ballardvale Street in Wilmington, Massachusetts. Locus will continue to occupy one of the few modern single-story, high-ceiling flex spaces with availability in the Interstate 93 corridor.
Colliers International's Greg Klemmer and Tim Brodigan represented Locus in this transaction. CBRE/NE's Mark Reardon, Jason Levendusky and Jake Borden represented the owner, Berkeley Investments.
Constructed in 1988, 301 Ballardvale Street consists of 125,596 square feet of single-story flex/light manufacturing space situated on 9.43 acres of land. The building features include 24-hour security, an individually controlled state-of-the-art HVAC system, and an abundance of bright and airy open space.
301 Ballardvale Street is part of the Ballardvale Portfolio, which consists of two flex buildings and one office building totaling 310,000 square feet in Wilmington, MA—16 miles north of Boston and Cambridge—in a well-established commercial cluster 0.5 miles from Interstate 93 and six miles from Route 128. This location offers easy commuting access to a highly skilled labor force stretching from New Hampshire to Boston, and from Boston's North Shore to its western suburbs. Ballardvale Street has emerged as a major corporate address north of Boston. OSRAM Sylvania and Charles River Labs both currently have headquarters along this street. Other global corporations along the corridor include AGFA Corporation, Procter & Gamble/Gillete and Pfizer.
About Berkeley Investments Berkeley Investments is a Boston-based, real estate investment and development company founded by Young Park in 1991. Since inception, Berkeley has built a strong track record of repositioning under-valued commercial properties throughout the Boston region, from the suburbs to downtown Boston. We are a vertically-integrated firm with proven in-house property, asset, construction and development management capabilities. Berkeley has acquired and/or developed nearly 17 million square feet of commercial office, flex, parking and multi-family assets since inception, establishing a strong co-investment history with financial partners including domestic and international institutions and high net-worth family offices. For additional information, please visit www.berkeleyinvestments.com.
About LOCUS ROBOTICS Leveraging years of direct warehouse operations experience and deep firsthand knowledge of warehouse robotics, Locus has engineered a totally new approach to mission critical fulfillment operations. The Locus platform delivers greater throughput, reduced costs and unparalleled flexibility in moving inventory and orders through a fulfillment center. This efficiency and flexibility in turn allow operators to keep up with the increasingly complex demands of channel partners and consumers. For more information, visit www.locusrobotics.com.
About CBRE/New England CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.