### Shorenstein and Tritower Acquire The Xchange R&D Office Park for $96M
A joint venture between Shorenstein Investment Advisors and Boston-based Tritower Financial Group has acquired **The Xchange**, a 480,000-square-foot R&D office park located at 14 Crosby Drive in Bedford, MA. Reports indicate that the partnership purchased the property for **$96 million** from Jumbo Capital Management, which had previously acquired it from The Davis Companies for **$107.75 million** in July 2018.
Situated near the **Route 128 interchange** in Burlington, The Xchange is **99% leased** to a strong tenant lineup, including **iRobot, Quanterix, Nyobolt, and Entegris**. The eight-building campus also offers potential for further development and additional square footage.
“The Xchange represents an opportunity for two deeply experienced investors and operators to enhance a superior, fully leased, and ultra-modern R&D campus in a market that continues to experience robust tenant demand,” said **Sean Fay, Vice President at Shorenstein**.
**JLL’s Christopher Lawrence and Matt Daniels** will continue to handle leasing at the property.
