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MetLife Investment Management Acquires $103M Office-to-Life-Science Conversion in Burlington
MetLife Investment Management has paid $103 million to acquire Burlington BioCenter, a newly delivered life-science asset located 15 miles northwest of Boston in Burlington, MA.
Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, The Gutierrez Company and GEM Realty Capital, and procured the buyer while Nickolas Revers provided financial analysis support for the transaction. David Douvadjian, Sr., and Timothy O’Donnell, also with Newmark, secured financing for the buyer.
Burlington BioCenter totals 109,085 square feet 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% leased to three users.
Burlington BioCenter is situated at 4 Burlington Woods Drive at the intersection of Route 3 and Interstate 95/Route 128 for access to Burlington’s amenities and connectivity to both Boston and the NH border.
- ◦Sale/Acquisition
