Barings Acquires One Patriots Park Life Science Asset Near Boston.

MANews-(C)2009-2022

US-based real estate investment manager Barings has acquired One Patriots Park, a nearly 144,000 square foot class A life science asset in the Boston suburb of Bedford, Massachusetts, for USD 132m from privately held real estate investment firm Jumbo Capital Inc, the firm said.

Newmark facilitated the transaction.

A two-story building set on 14.4 acres, One Patriots Park is fully leased to four cutting-edge life science tenants and contains high-quality, modern buildouts including Biosafety Level 2 and 3 laboratories. Barings intends to execute on value enhancements through the renovation of remaining first generation lab space.

Just 20 miles northwest of Boston with connectivity to Boston and Cambridge, the premier life sciences market in the country, One Patriots Park is centrally located within the Route 128 life sciences cluster, widely considered to be Boston's leading suburban life sciences node and supported by strong market fundamentals, VC funding, innovation, and demographics.

Additionally, the asset is adjacent to the Minuteman Commuter Bikeway, a 10-mile bicycle path to Cambridge, and offers shuttle service to the MBTA Red Line's Alewife Station.

Powered by dozens of colleges and universities, a highly educated and talented workforce, a world-renowned medical sector and diversified corporate base, Boston is an ever-growing center of innovation, technology, and life sciences with 19 of the 20 largest publicly traded Biotech/Pharma organizations occupying space in Greater Boston.

Demand for lab space is extremely strong across metro Boston, driven by the expansion of...

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