Developer Sells Burlington Life Science Building For $103 Million

BURLINGTON, MA — Investment giant MetLife Investment Management recently opened its wallet in Burlington with a more than $100 million purchase of a converted life science site off Burlington Mall Road.

The 109,085-square-foot Burlington BioCenter is located at 4 Burlington Woods Drive, which winds off Burlington Mall Road near I-95 and Route 3. MetLife paid $103 million for the facility, according to an announcement from commercial real estate broker Newmark last week.

Formerly an office building, the site is currently fully leased with a trio of life science tenants. The Gutierrez Company owned the BioCenter prior to this sale, announcing plans in 2019 to convert the site for life science uses.

Current tenants include biotechnology company Ultivue, contract research organization ProtaGene and biopharmaceutical company CANbridge.

News of a new owner at the Burlington BioCenter comes amid larger trends in the local biotechnology and life science industries.

Burlington has seen some recent life science newcomers in the form of Vericel and the Broad Institute, among others.

The region as a whole has welcomed its own influx of life science arrivals as industry observers note companies now looking for cheaper real estate and more space outside of traditional industry nexus points in Cambridge and Boston.

“Burlington BioCenter is a core life science asset in a fast-growing laboratory cluster along the coveted Route 128/Interstate 95 corridor,” Newmark Vice Chairmen Matthew Pullen said of the BioCenter and the region at large last week. “Its thoughtful conversion prioritized high-performance laboratory infrastructure, energy-efficient building systems and fully customizable tenant spaces, creating an ideal environment for mid-sized users.”