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Lightstone Pays $68M for Fully Leased RI Biomanufacturing Facility
Lightstone has acquired 100 Technology Way from Davis for $68 million, in the continued expansion of its life science portfolio. The 122,507-square-foot Class A cGMP biomanufacturing facility, located in Smithfield, RI, is fully leased to Organogenesis.
“We are continuing the thoughtful expansion of our life sciences portfolio, driven by strong demand for high-quality biomanufacturing, R&D and technology-focused assets,” said Mitchell Hochberg, president of New York City-based Lightstone. “This growth positions us to support innovation at scale in key markets. The acquisition of 100 Technology Way is a compelling opportunity to add a highly specialized, Class A cGMP asset in one of the nation’s most established biotech hubs.”
Newmark’s capital markets team, led by Rob Griffin, Jim Tribble, Samantha Hallowell, Tyler McGrail and Will Sleeper, brokered the transaction. With this acquisition, Lightstone has expanded its life sciences platform to more than 1.2 million square feet across eight assets nationwide.
- ◦Sale/Acquisition
