{"id":1004703205,"date":"2024-02-22T02:23:29","date_gmt":"2024-02-22T10:23:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004703205"},"modified":"2024-02-22T07:55:38","modified_gmt":"2024-02-22T15:55:38","slug":"lincoln-property-metlife-land-70-ksf-boston-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-property-metlife-land-70-ksf-boston-lease\/","title":{"rendered":"Lincoln Property, MetLife Land 70 KSF Boston Lease"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a29426795fb5&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004703234\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bpg-bio-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;9&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1640101115&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;14&quot;,&quot;iso&quot;:&quot;160&quot;,&quot;shutter_speed&quot;:&quot;0.5&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"bpg bio\" data-image-description=\"&lt;p&gt;https:\/\/www.businesswire.com\/news\/home\/20240221278304\/en&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;300 Third Avenue in Waltham, Mass. Image courtesy of Lincoln Property Co. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg\" alt=\"\" class=\"wp-image-1004703234\" style=\"width:338px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/bpg-bio-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The life science building at 300 Third Ave. came online in 2022. <em>Image courtesy of Lincoln Property Co. <\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Lincoln Property Co.<\/strong>, together with a <strong>MetLife Investment Management <\/strong>client, has landed a 70,000-square-foot lease at a life science building in Waltham, Mass. <strong>BPGbio<\/strong>, a biology-first AI-powered biopharma company, plans to relocate its headquarters from Framingham, Mass., to 300 Third Ave. by June 2025. <strong>Cresa Boston <\/strong>negotiated on behalf of the tenant, while the ownership was self-represented.<\/p>\n\n\n\n<p>Lincoln broke ground on the speculative project in 2020, financing its construction with a $60 million loan from <strong>Bank OZK<\/strong>, according to CommercialEdge information. The five-story building came online in 2022.<\/p>\n\n\n\n<p>Totaling 143,533 square feet, 300 Third is a LEED Gold- and WiredScore-certified facility designed by <strong>DiMella Shaffer<\/strong>. It features four stories of lab space with 35,000-square-foot floorplates, alongside a fitness center, caf\u00e9, roof deck and 441 parking spots.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/attracting-life-science-tenants-in-core-markets\/\">Attracting Life Science Tenants in Core Markets<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>BPGbio will occupy two full floors at the life science facility. The company will house its more than 100,000 sample biobank in the asset and plans to utilize the space to increase its development of therapeutics and diagnostics. Other tenants include biotech company Biocytogen and Stoughton Electrical Repair &amp; Installations, the same data shows. <\/p>\n\n\n\n<p>Situated on Route 128, the property offers free shuttle service to Alewife, an MBTA Red Line to Cambridge. Downtown Boston is approximately 14 miles east, while the city center is 3 miles away.<\/p>\n\n\n\n<p>Lincoln\u2019s Tim Latham, Christopher Scott and Chris Devaux assisted the owners in the deal. Cresa&#8217;s Paul Delaney, Adam Subber, and Nate Heilbron represented BPGbio.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-boston-s-strong-life-science-fundamentals\">Boston\u2019s strong life science fundamentals<\/h2>\n\n\n\n<p>The life science market in Boston <a href=\"https:\/\/www.commercialsearch.com\/news\/life-sciences-bolster-bostons-office-market\/\">proved strong enough<\/a> to bolster the metro\u2019s overall office market last year. According to a Cushman &amp; Wakefield report, employment in life sciences has grown some 35 percent in the last five years with increased growth anticipated through 2028. By the end of this year, 12 million square feet of space are expected to hit the market.<\/p>\n\n\n\n<p>As companies flock to this life science hub, Boston transactions have already been plentiful this year. The first phase of a <a href=\"https:\/\/www.commercialsearch.com\/news\/celera-properties-jv-completes-1st-phase-of-boston-life-science-redevelopment\/\">250,000-square-foot technology park <\/a>was completed last month in Andover, Mass. The redevelopment project involves the repurposing of two office buildings into a life science complex.<\/p>\n\n\n\n<p>Also in January, a 205,000-square-foot life science building <a href=\"https:\/\/www.commercialsearch.com\/news\/boston-life-science-project-comes-online\/\">came online<\/a> in Somerville, Mass. The seven-story facility comprises 60 percent lab space and 40 percent office space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A biopharma company will relocate its headquarters to the property.<\/p>\n","protected":false},"author":3006,"featured_media":1004703206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21742,10,21747],"tags":[41597,34279,50575,34930,44078],"class_list":["post-1004703205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-bank-ozk","tag-cresa","tag-dimella-shaffer","tag-lincoln-property-co","tag-metlife-investment-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lincoln Property, MetLife Land 70 KSF Boston Lease - 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