Oakland-based Berkeley Partners acquired two industrial buildings in Marlborough and Northborough for a combined $36M, according to public records. The seller was Houston-based McCord Development. The properties are located at 870 Donald Lynch Blvd. in Marlborough and 30 Barefoot Road in Northborough. Berkeley Partners did not respond to Bisnow's request for comment.
The Marlborough building is a 59K SF research and development property that has been home to Aspen Aerogels since 2022. The Northborough property is a 65K SF facility adhering to Good Manufacturing Practices regulations. CBRE brokered the sale, according to a LinkedIn post from Vice Chairman Scott Dragos. Berkeley owns and operates 43 properties totaling more than 4M SF in the Greater Boston area. Nationally, the firm is active in 15 markets and owns 131 assets, primarily industrial.
The acquisition adds two specialized industrial assets to Berkeley's existing Greater Boston portfolio, consistent with the firm's stated national focus on industrial properties. The R&D; and GMP-compliant characteristics of the buildings suggest tenant demand tied to technical or regulated uses, though the dossier does not provide occupancy, lease terms, or capitalization rates for either property.
What remains unknown is the per-building price allocation, financing structure, and whether the acquisition reflects a broader strategy shift or a one-off portfolio addition. The dossier also does not state whether McCord Development sold the properties as part of a larger disposition or whether any brokers beyond CBRE were involved. No forward-looking statements from Berkeley Partners or McCord Development are available in the source material.