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Sign in Sign up for a FREE subscriptionMetLife pays $103m for Boston life science facility
The Gutierrez Company and GEM Realty Capital have sold Burlington BioCenter, a newly delivered life science asset 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 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 systems and fully cust
