Alexandria Real Estate Equities has acquired One Investors Way, a 236,566-SF office building in Norwood, MA from U.S. Realty Advisors + Bain Capital Real Estate for $105 million, CPE first reported. Surrounded by a life science campus, the property is located 20 miles away from Downtown Boston.
Worth Noting: Originally constructed in 1915 and renovated in 1998, the building includes nearly 1,000 parking spaces. The surrounding campus is also home to a 260-unit apartment community and a two-building property occupied by biotech company Moderna.
Be Smart: Boston / Cambridge is the strongest life sciences market in the country. Just last December, Blackstone Group acquired a portfolio of life-sciences buildings in the area from Brookfield Asset Management for $3.45 billion. The acquisition is the latest sign of growing investor interest in biotech lab space and life-sciences real estate during the pandemic.
Brokers: Newmark’s Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell, and Will Sleeper facilitated the deal. [CPEX]