BLDUP Newsletter

108 Cherry Hill Drive Update 05/28/19

Beverly Property Sells for $76 Million

The property at 108 Cherry Hill Drive has sold to Rochester, New York based company, Broadstone for $76 million.

The property features 417,313 square foot industrial/R&D building that was constructed in 1984 and updated in 2002. The commercial structure sits on a 36.98-acre lot across from Route 128 and adjacent to Beverly Airport. The steel building is home to Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry.

The property was previously sold for $49 million back in 2015.

 

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