Biotech To Build 110K SF Waltham Facility: The Boston Deal Sheet
A Lexington-based biotech company is expanding in Greater Boston with a new research and operations facility.
CBSET plans to build a 110K SF life sciences facility in Waltham, the Boston Business Journal first reported.
The new facility will be located at 153 Second Ave., the former Sanofi-Genzyme location, and will open in the fourth quarter of 2026.
The company had originally signed an 87K SF lease at the property, according to a report from Lincoln Property Co. The expansion comes as the company received a majority growth investment from Washington, DC-based Arlington Capital Partners.
The company also plans to continue to work with foreign biotech companies to expand into the U.S. at the new site.
CBSET is currently headquartered at 500 Shire Way in Lexington, which it plans to exit once the new facility is built.
SALES
Redgate acquired the Westford Regency Inn & Conference Center for $12.9M. The firm plans to redevelop the 20.2-acre property into 300 housing units across two four-story buildings in Westford.
ABG’s Bernard Gibbons represented the seller, Empire South Properties, in the deal.
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Treeco acquired 93-97 Massachusetts Ave., 375 Newbury St., and 10 other retail and office suites across Newbury Street. The firm paid $50M for the properties. The sellers in the deal were Kensington Investment Co. and Linear Retail Properties.
LEASES
Corbus Pharmaceuticals renewed and extended its lease at 500 River Ridge Drive in Norwood. The lease spans 36K SF and will support the company’s operations as well as cancer and obesity research efforts.
Colliers' Curtis Cole, Sean Hannigan and Tim Allen represented the tenant. JLL’s Nat Kessler represented the landlord, River Ridge Limited Partnership, in the transaction.
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TD Bank signed a 10-year, 39K SF lease across two floors at 2 International Place. The building is owned by The Chiofaro Co. and PGIM Real Estate. The property is undergoing a $100M renovation.
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Related Beal secured a 95K SF lease at its 251 Locke Drive in Marlborough, bringing occupancy up to 100%.
Nonprofit human services organization Advocates signed the lease at the 160K SF office and flex building.
FINANCING
Rogerson Communities locked down $26.4M in MassHousing financing for its 135-unit Beacon House multifamily project in Boston’s Beacon Hill. The financing will be used to extend the property's long-term affordability and property improvements.
The project converted an old hotel at 10 Myrtle St. into 117 units for residents age 55 and older. The other 18 units are rented through a commercial lease with Massachusetts General Hospital for patients and family members.
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Gov. Maura Healey and the city of Boston awarded a combined public investment of $10.5M for the construction of 110 rental homes at 20 Malcolm X Blvd. in Roxbury's Nubian Square. The funding comes from the state's momentum fund and the city's housing accelerator fund.
SV+Partners and Trax Development were the recipients of the funding.
PERSONNEL
Citizens’ Housing and Planning Association selected Eric Shupin as its next CEO. Shupin most recently held the position of deputy chief of staff for policy at the Massachusetts Executive Office of Housing and Livable Communities. Before that, Shupin served as director of public policy at CHAPA.
He will step into the role on June 15 and succeed Rachel Heller.
CONSTRUCTION AND DEVELOPMENT
Toll Brothers filed plans for a 384-unit multifamily project for residents 55 years and older on a Plainville golf course, the Boston Business Journal reported. The Heather Hill Country Club will be converted into a new multifamily project.
