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Woburn-based Cummings Properties has sold a 5-acre parcel at its Dunham Ridge campus in Beverly to a Peabody company for a new headquarters and manufacturing facility.
The purchase price was $6 million. Site work recently began on a 100,000-square-foot manufacturing facility for Harmonic Drive LLC, a former division of United Shoe Machinery Corp. that designs components used in robotics and semiconductor manufacturing. The company has outgrown its two-building Peabody headquarters, Harmonic Drive said in a statement, and the move will enable the company to add approximately 60 people to its 142-employee workforce.
In a statement, Harmonic Drive CEO Doug Olson said the company had been looking for a new location for expansion on the North Shore while remaining close to its employee base.
Connolly Brothers of Beverly is the general contractor. Completion is scheduled for summer 2019.
Existing tenants in Dunham Ridge include Microline Surgical and GreenBananaSEO. Cummings has been marketing two other parcels in the 54-acre park for sale.
