NU Buys Converted Lab Building at Big Discount
A suburban lab conversion was acquired by Northeastern University for $33 million, just three years after a local developer sold it for $103 million to an institutional investor.
A suburban lab conversion was acquired by Northeastern University for $33 million, just three years after a local developer sold it for $103 million to an institutional investor.
A speculative Burlington development that shifted from office to lab-ready space in 2019 was sold to MetLife Investment Management for $103 million after three life science companies leased the entire building early this year.
After failing to secure an office tenant for its Burlington Woods Drive spec development, Gutierrez Cos. decided to test the 110,000-square-foot building’s desirability among life science companies.
A Burlington-based developer is testing the market for life science expansion in its hometown with plans to convert a vacant speculative office building into a lab-ready facility.