Project Progress: Acquired by Proponent


About 108 Cherry Hill Drive

Beverly, MA

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.

In January of 2015, the Company's headquarter building at 108 Cherry Hill Drive was sold to Beverly Property Owner LLC, an affiliate of Middleton Partners, based in Northbrook, Illinois, for the purchase price of $49 million. Axcelis has entered into a 22-year lease of the property and will retain ownership of approximately 23 acres of adjacent property.

Construction Cost $76,000,000.00
Acquisition Cost $76,000,000.00
Square Feet 417,313
Sector

Industrial

Lab

Office

Stories 3
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May 28, 2019

The property at 108 Cherry Hill Drive has sold to Rochester, New York based company...

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