BILLERICA, MASS. —Berkeley Garbe, a Boston-based developer that is a joint venture between Berkeley Investments and German real estate company GARBE, is underway on construction of a 150,000-square-foot life sciences project in Billerica, located northwest of the state capital. The site spans 23 acres at 161 Concord Road, and the new building will support manufacturers in industries such as aerospace, robotics, medical devices, semiconductors, computer hardware and battery technologies. Building features will include a clear height of 28 feet and 264 car parking spaces. Avison Young is the leasing agent for the project. Construction began in June and is expected to be complete next spring, and Berkeley Garbe has since received an additional $35.4 million in financing for the project from MetLife Investment Management. Andrew Kaeyer led a capital markets team at Hunneman that arranged the debt of behalf of the developer.
Berkeley Garbe originally purchased the 161 Concord property in 2022 and successfully rezoned and permitted the site to accommodate an advanced GMP manufacturing facility.
Berkeley Garbe Underway on 150,000 SF Life Sciences Project in Billerica, Massachusetts
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