With a build-to-suit facility for the state Crime Lab finalized, owners of The Campus at Marlboro are studying their next development opportunities including commercial and residential space.
Developers have seen the bottom fall out of the Boston lab real estate market. But construction costs over $1,000 per square foot put most non-biotech tenants out of reach.
A Newton office park that was earlier slated for a life science conversion landed a large office tenant that’s expected to bring 600 employees to the campus.
The lab and life science market in Greater Boston and across the nation might be cooling off, but there are still some tailwinds benefiting suburban office-to-lab conversions that were set in motion in recent years.
A suburban office-to-lab conversion inked its seventh tenant to date with a 42,000-square-foot lease to a Cambridge-based biotech.
Boston-based Greatland Realty Partners and Barings acquired a Newton office park where life science developer Alexandria Real Estate Equities had planned a lab conversion.
The speculative redevelopment of Weston’s former Liberty Mutual office park into life science space received its first tenant commitment from a Natick biotech that was acquired last year for $300 million.
The conversion of a former Liberty Mutual office property in Weston into a three-building life science campus received $150 million in construction financing.
The Revolution Labs speculative life science conversion in Lexington has received its first lease commitment from a publicly-traded biotech company.
A 7.8-million-square-foot pipeline of office building conversions to lab-ready space accounts for nearly 30 percent of Greater Boston’s life science inventory, exceeding the national average for commercial real estate markets.
Greatland Realty Partners is the first developer to respond to the town of Lexington’s Hartwell Innovation Park (HIP) rezoning with its acquisition of a four-building, 289,000-square-foot complex.
Developer Greatland Realty Partners is kicking off construction of Revolution Labs, a 180,000-square-foot lab building in Lexington, one of its three current life science projects in the western suburbs.
Throughout eastern Massachusetts, once-shunned suburban office campuses are in demand for acquisitions amid developers’ newfound zeal both for office-to-lab conversions and sites with ample acreage to build biomanufacturing plants.
The field of Greater Boston lab developers is widening. So who are they? What are their strategies? And who have they hired to execute their plans?
A 531,916-square-foot office park anchored by medtech firm Hologic has been acquired by a Boston-based Greatland Realty Partners fund for $66 million.
