JLL has closed the sale of Billerica Crossing, an 18-acre land site in Billerica, MA. 

Brian Morrissey, Michael Restivo, Martha Nay, Lenny Pierce and David Coffman of JLL represented the seller, Cabot Corporation, who will continue to operate its flagship R&D facility on the adjacent parcel. Boston-based Berkeley Investments, Inc., acquired the asset and plans on developing a 200,000-square-foot, purpose-built Good Manufacturing Practice facility.

Billerica Crossing within one of Boston’s premier high tech and life sciences clusters and benefits from the highly educated labor pool residing along the Route 3 corridor and a 25-minute drive into Boston.

JLL research shows more capital flowed into the life science eco-system in Greater Boston in 2021 than any other year. Accordingly, the GMP market demand has grown rapidly but has been limited with few options for conversions and little new construction development, which has pushed asking rents well north of $60 triple net leased.