Image courtesy of Berkeley Investments/Boston Architectural Photographers

With a lab conversion scheduled for completion within weeks, owners of Malden’s 200 Exchange finalized leases with their first three life science and research tenants totaling nearly 100,000 square feet.

In 2021, Boston-based Berkeley Investments formed a joint venture with Singerman Real Estate of Chicago for a life science conversion of the four-story, 352,000-square-foot former bank operations center across from the MBTA’s Malden Center station.

The building infrastructure upgrades are scheduled for completion this fall, and the first tenants will occupy the facility by the end of the year.

Huntsville, Alabama-based Discovery Life Sciences leased 53,000 square feet at 200 Exchange after acquiring In Vitro ADMET Laboratories, which has an existing facility in Malden at 389 Main St., in December 2021. The firm will build out its space at 200 Exchange by late 2023 to accommodate a staff of 75 employees, and plans to hire another 50 employees within two years, developers announced Tuesday.

Outer Biosciences leased a 15,000-square-foot speculative lab suite built out by the developers to accommodate biotechs requiring a quick timeline to occupancy. The suite is one of three spec labs on the building’s lower floors.

A third undisclosed tenant that specializes in advanced materials will relocate from Cambridge into 22,000 square feet at 200 Exchange.

JLL represents ownership in leasing the remaining space at 200 Exchange.

Berkeley acquired the property in 2016 for $21.7 million and initially planned a mix of office and data center uses.

But developers more recently have seen Malden Center as a natural extension of the life science industry’s expansion along the Orange Line corridor, including major projects in Somerville’s Assembly Square.

Boston-based Quaker Lane Capital received approval in 2021 to develop a 188,000-square-foot office and R&D building at 11 Dartmouth St.