Barings Buys $132M Life Science Property in Bedford, MA
Charlotte, NC-based Barings has acquired for $132 million One Patriots Park, a nearly 144,000 square foot Class A life science asset in the Boston suburb of Bedford, MA.
Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, Jumbo Capital Incorporated, and procured Barings.
“As more life science companies look to expand their footprint in Greater Boston, the northern suburbs have become an attractive alternative to Cambridge with the ability to receive discounted rents without sacrificing on amenities,” said Nick Trocki, VP at Jumbo Capital.
Totaling 143,553 square feet, One Patriots Park is fully leased to four life science tenants whose on-site buildouts include Biosafety Level 2 and 3 laboratories, Good Manufacturing Practice-compliant facilities and cleanroom space.
One Patriots Park is located near the junction of Interstate 95/Route 128 and Route 3 in a densely populated life science and technology cluster 20 miles northwest of Boston.
- ◦Sale/Acquisition
