Lincoln Property & MetLife Secure Massive 70K SF Lease in Waltham, Boston

Embracing innovation and growth, 300 Third Ave. in Waltham, Mass., has recently attracted BPGbio, a pioneering biopharma company utilizing cutting-edge AI technology. This 70,000-square-foot lease marks a strategic move that will see BPGbio's headquarters transition from Framingham, Mass., adding a vibrant touch to the thriving life sciences community in the area. The agreement brokered by Cresa Boston signifies a promising collaboration, while the successful venture underscores Lincoln Property Co.'s visionary approach and commitment to progress.

Pioneering Development

In 2020, Lincoln Property Co. undertook the ambitious project of erecting a modern five-story structure at 300 Third Ave. The realization of this vision was made possible through a $60 million loan from Bank OZK, showcasing a blend of financial acumen and forward-thinking construction expertise. The completion of the building in 2022 stands as a testament to the successful synergy between innovation and strategic investment.

The Visionary Space of 300 Third

Presenting 300 Third, a LEED Gold- and WiredScore-certified structure meticulously crafted by the esteemed DiMella Shaffer. Extending over 143,533 square feet, this architectural marvel boasts four sprawling stories of cutting-edge lab premises featuring expansive 35,000-square-foot floorplates. Complementing this hub of innovation are amenities like a fitness center, a cozy café, a panoramic roof deck, and a generous provision of 441 parking spaces. BPGbio has secured two complete floors within this scientific haven, earmarking space for their extensive 100,000-sample biobank and signaling a strategic leap in advancing therapeutics and diagnostics. Noteworthy cohabitants of this scientific enclave include Biocytogen, a thriving biotech enterprise, and Stoughton Electrical Repair & Installations.

An Enviable Location

Nestled along Route 128, this property provides convenient access to a complimentary shuttle service connecting to Alewife, a pivotal MBTA Red Line station leading to Cambridge. The vibrant heart of Downtown Boston beckons a mere 14 miles to the east, while the bustling city center stands just 3 miles away, offering a proximity that ensures connectivity and efficiency for businesses thriving within its walls.

Navigating the Thriving Life Science Market

Engulfed in the vibrant life science market of Boston, Lincoln’s Tim Latham, Christopher Scott, and Chris Devaux took on the mantle to guide the owners through a pivotal deal, while Cresa’s Paul Delaney, Adam Subber, and Nate Heilbron stood as stalwart representatives for BPGbio. The dynamic landscape of the market proved its prowess in fortifying the metro’s office sector, as evidenced by a notable 35 percent surge in life sciences employment over the past five years. With projections pointing towards sustained growth until 2028, the imminent unveiling of 12 million square feet of space by year-end paints a promising picture of expansion and innovation.

Embracing a Landscape of Growth

As the life science sector in Boston continues its upward trajectory, catalyzing growth across various industries and domains, the foresight and strategic maneuvers of key players such as Lincoln and Cresa are poised to redefine the narrative of progress and innovation in the region. The evolving dynamics of the market beckon for astute navigation and unwavering commitment to unlock its full potential, setting the stage for a future brimming with opportunities and transformative collaborations.

A Scene of Dynamic Transformation

Embracing the spirit of progress, Boston witnesses a flurry of activity within its life science domain this year. In Andover, Massachusetts, a grand 250,000-square-foot technology park has recently emerged from its cocoon, a vivid symbol of revitalization. This ambitious project breathes new life into two office buildings, shaping them into a vibrant life science complex, poised to lead the way in innovation.

An Innovative Arrival on the Scene

Meanwhile, over in Somerville, Massachusetts, a striking 205,000-square-foot edifice has burst onto the life science landscape. This seven-story marvel stands tall, offering a blend of 60 percent lab space and 40 percent office expanse, a fusion designed to foster collaboration and advancement in the realm of scientific exploration.