The Gutierrez Company and GEM Realty Capital have sold Burlington BioCenter, a newly delivered life science asset that is located 15 miles northwest of Boston in Burlington, Mass., for $103 million.
MetLife Investment Management is the new owner.
Totaling 109,085 square feet, Burlington BioCenter underwent a first-class conversion from office to life science use with base building delivery in late 2019 and its final tenant buildout recently completed. The asset is 100 percent leased to three users: biotechnology firm Ultivue, contract research organization ProtaGene and biopharmaceutical company CANbridge.
“Burlington BioCenter is a core life science asset in a fast-growing laboratory cluster along the coveted Route 128/Interstate 95 corridor,” said Matthew Pullen, vice chairman at Newmark, which represented the seller and procured the buyer. “Its thoughtful conversion prioritized high-performance laboratory infrastructure, energy-efficient building system