Major local life science landlord King Street Properties paid $4.7 million for a pair of sites at Devens, the former Army base emerging as a Central Massachusetts industrial hub.

The Boston-based company bought 45 and 79 Jackson Road from MassDevelopment earlier this summer, according to public records. The sales closed July 29. The company had paid $2.7 million for the 6.9-acre parcel at 57 Jackson Road in between its July purchases in April. Together, the sites comprise just over 45 acres of land.

King Street’s plans are still being finalized, MassDevelopment CEO Lauren Liss wrote in a column scheduled to be published Sunday by Banker & Tradesman, but the company has a track record of pioneering new frontiers for life science development throughout the region. The King Street parcels are near Bristol-Meyers Squibb’s Devens facility.

The sales come as Central Massachusetts is beginning to emerge as a hub for contract research and contract manufacturing to compliment the research undertaken in Cambridge’s Kendall Square and along the Route 128 corridor. Worcester’s Reactory life science park recently closed two land deals totaling $110 million that will pave the way for substantial new development on the 46-acre former state hospital site.

King Street Adds to Devens Holdings with $4.7M Buy

by James Sanna time to read: 1 min
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