Jumbo Capital Sells Bedford Facility to RedGate

BEDFORD — Privately held real estate investment firm, Jumbo Capital recently sold its 100 Crosby Drive, Bedford property to RedGate, a strategic real estate advisory and investment firm headquartered in Boston with offices in Baltimore and New York City.

The nearly 275,000 square foot facility had been in Jumbo’s Research and Development/flex portfolio since 2014 with single tenant occupancy throughout the firm’s hold of the property. The building sits on 52 acres and was successfully master planned to include an additional 300,000 SF of life science and office space.

RedGate will carry forward Jumbo’s plan to fully reposition the property in order to serve the rapidly growing Life Sciences sector.

Jumbo Managing Partner and Acquisitions team leader, Bradford Spencer congratulated stakeholders upon completion of the sale.

“100 Crosby had always been a steady cash flow asset for our firm. We are confident that RedGate will do well as they complete the repositioning of this property into a Life Science Center. We look forward to being neighbors with RedGate as Jumbo begins development of our recently acquired, One Patriot Park property in the same burgeoning Life Science hub of Bedford.”