Barings Buys $132M One Patriots Park Life Science Property in Bedford
Newmark has completed the $132-million sale of One Patriots Park, a Class A life science asset located in the suburban Boston community of Bedford, MA.
Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, Jumbo Capital Incorporated, and procured the buyer, Charlotte, NC-based 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 moments from 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
