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Oxford Scores Boren Lofts for $119M

Life sciences has catapulted Washington State into a top job booster, ranking as its fifth largest employment sector. And, another life sciences property made the grade, with Oxford Properties Group recently acquiring Boren Lofts in Seattle for $119.1 million. The shell-condition structure is located in Seattle’s South Lake Union submarket, the nucleus of the city’s biotechnology industry.

The newly built 136,000-square-foot office building is primed for immediate conversion into lab space and will be transformed into a fully dedicated life science facility. The 10-story property has 15-foot ceilings and 15,000-square-foot open floorplates.

The acquisition continues Oxford’s increased focus on building a dedicated life sciences business. In the first few months of 2021, it secured five new life sciences investments. When accounting for new development opportunities at these properties, this will account for more than $1 billion in deployed capital.

“The South Lake Union submarket is one of the most desirable life science ecosystems in the country,” said Chad Remis, executive vice president, North America at Oxford. “The acquisition of Boren Lofts is a rare opportunity to create more than 136,000 square feet of institutional, necessary lab space for innovators, creators, scientists and more.”

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition