IQHQ, a life sciences real estate development company, has acquired Innovation Park, an approximately 200,000-square-foot campus on the 495 Corridor in Andover, Mass.
The strategic acquisition will complement IQHQ’s portfolio of downtown assets, and it will meet the increasing demand by large institutions for state-of-the-art office and lab space in both downtown Boston and in the surrounding suburbs.
“The acquisition of Innovation Park supports our vision for Massachusetts by expanding our footprint outside of downtown Boston and into the surrounding Andover medical innovation and life science cluster,” said Tracy Murphy, president of IQHQ. “We are pleased to welcome UMass Lowell and Ora as our first tenants. Through our redesign, we will enhance the campus to meet the needs of future tenants that are seeking premier office and lab space in Greater Boston.”
Since 2016, there has been approximately 2 million square feet of new demand for suburban lab s
