BXP Acquires 153K-SF Lab Property in Waltham
Boston Properties (BXP) has acquired 153 & 211 Second Ave., two lab properties totaling 153,000 square feet in Waltham. Boston Properties acquired the two lab buildings from an affiliate of Montana Avenue Capital Partners for a gross purchase price of $100 million in cash.
The properties are currently fully leased to a leading pharmaceutical company and are adjacent to BXP’s 200 West Street building, a 272,000 square feet property, a portion of which was recently converted to lab space, that is 100% leased to Translate Bio.
“Waltham continues to be a dominant urban edge location for life sciences organizations that want to attract and retain highly-educated talent,” said Bryan Koop, executive vice president at BXP. “The 153 & 211 Second Avenue campus provides both location and amenities that offer long-term value for current and prospective clients and is another example of BXP’s ability to meet the growing demand of companies in the biotechnology sector.”