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Jumbo Capital Buys Bedford Lab Property for $72.5M

By Steve Adams | Banker & Tradesman Staff | Dec 22, 2020 | Reprints | Unlock Link

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Photo courtesy of Newmark Knight Frank

A 143,616-square-foot Bedford lab building that includes the headquarters of Homology Medicines Inc. has been acquired by Quincy-based Jumbo Capital Management and Iron Point Partners for $72.5 million.

One Patriots Park is currently 66 percent leased to Homology as well as N2 Biomedical. The property has shuttle service to the MBTA’s Alewife station.

Newmark Knight Frank’s capital markets team represented the seller, Longfellow Real Estate Partners and Bain Capital. The Bedford-Lexington submarket currently has a 1.7 million-square-foot lab space inventory.

“One Patriots Park is well positioned in a premier life science/technology hub,” said Samantha. “The ‘cluster effect’ has driven a critical mass of innovative companies to the area, which comprises parts of Bedford and neighboring Lexington,” Newmark Managing Director Samantha Hallowell said in a statement.

B&T Daily