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Lexington Lab Complex Gets Two Leases

Image courtesy of Google

Two new tenants have committed to nearly 50,000 square feet at a Lexington property that was converted into lab space in the previous decade by Boston-based Griffith Properties.

Convatec and Nortiva Bio leased 24,572 and 22,881 square feet, respectively, at 20 Maguire Road.

Griffith Properties converted the property into lab-ready space in 2017 following the departure of IBM Rational Software, seeking to attract spillover demand from Cambridge.

The property most recently traded for $89 million in October 2022 and is currently owned by Griffith Properties and Investcorp.

CBRE’s Alex Plaisted and Don Domoretsky represented ownership in the lease negotiations.

Located on a 13.4-acre property, the facility includes a 3-story, 101,310-square-foot life science building and 351 parking spaces. Following the latest transactions, two lab suites totaling 24,824 square feet are available.

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