Holliday Fenoglio Fowler LP (HFF) has secured $18.2 million in financing for the redevelopment of 113 Hartwell Ave. a vacant 103,000-square-foot industrial property in Lexington.

Working exclusively on behalf of King Street Properties LLC, HFF placed the adjustable-to-fixed-rate loan with Eastern Bank. Loan proceeds will be used to acquire and renovate the property, according to a statement.

The property, the second such asset purchased by King Street within a five month period, will be redeveloped into a Class A life science/biotech building. The 10-acre site is adjacent to MIT’s Lincoln Labs in Lexington, in the heart of suburban Boston’s premier life science cluster. King Street is also redeveloping the adjacent building at 101 Hartwell Ave. into a life science property. HFF secured financing for 101 Hartwell in October 2010.

According to HFF, Eastern Bank was comfortable lending on a vacant property in large part due to the continued success that King Street has had in leasing to the life sciences community. King Street’s 101 Hartwell property went from vacant to 82 percent leased in a few months, according to a statement.

The HFF team representing the borrower included directors Greg LaBine and Janet Krolman.