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KBS REIT unloads Mass. office, R&D facility

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KBS REIT unloads Mass. office, R&D facility

KBS Real Estate Investment Trust Inc. sold a two-building property comprising office and research-and-development space in Billerica, Mass., to a joint venture between Jumbo Capital Management and Boston Andes Capital, Commercial Property Executive reported.

Financial terms of deal were not disclosed, but PropertyShark data showed that the REIT acquired the asset for $42.2 million in 2008, the publication noted.

The roughly 285,700-square-foot property, called Rivertech Park, sits on a 30-acre lot at 129 Concord Rd. It is 100%-occupied by Entegris Inc. and Nuvera Fuel Cells under long-term leases.