HOUSTON — Berkadia has arranged a $16.1 million loan for the refinancing of a 48,440-square-foot life sciences facility in Houston. The property at 4551 Kennedy Commerce Drive is located on the city’s north side and was fully leased at the time of the loan closing to CellReady, a provider of gene therapy solutions. Sabrina Solomiany, Patrick Abeln and Mike Cerny of Berkadia arranged the five-year loan, which carried a 6.7 percent fixed interest rate and a 30-year amortization schedule, on behalf of the borrower, Houston-based DC Partners. The direct lender was not disclosed.
ANDOVER, MASS. — Locally based investment firm The Davis Cos. has acquired a 308,970-square-foot office and life sciences facility in Andover, a northern suburb of Boston. The building at 100 Minuteman Drive houses the headquarters of both dental products provider Straumann Manufacturing Inc. and law firm Zwicker & Associates. Building amenities include an interior courtyard, fitness center and an onsite café. Newmark represented the undisclosed seller in the transaction.
AUSTIN, TEXAS —Rules-Based Medicine, a lab operator and division of Connecticut-based healthcare technology firm IQVIA, has renewed its office and life sciences lease at 3300 Duval Road in North Austin. Built on 7.1 acres in 2000, the facility is known as Stonecreek Park and totals 76,910 square feet. Nate Stricklen and Jay Austin of CBRE represented the tenant in the lease negotiations. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, Drawbridge Realty.
CAMBRIDGE, MASS. — Locally based design-build firm TRIA has completed the build-out of a 50,000-square-foot life sciences space in Cambridge, located across the Charles River from Boston. The space is a build-to-suit for biopharmaceutical user Korro Bio, which develops therapies for patients with a range of diseases, and features a multitude of flexible workspaces, meeting and collaboration areas and designated lab facilities. The building is located at 60 First St. and is a redevelopment of a former Sears facility.
CHELMSFORD, MASS. — Newmark has arranged the sale and financing of 2 Executive Drive, a 113,800-square-foot life sciences building located in the northwestern Boston suburb of Chelmsford. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Joseph Alvarado and Casey Valente of Newmark represented the seller, Foxfield, in the transaction. David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr. and Conor Reenstierna, also with Newmark, arranged an undisclosed amount of acquisition financing for the buyer, Rhino Capital, through Bank Newport.
LIBERTYVILLE, ILL. — BWE has arranged a $20 million loan for the acquisition of Innovation Park, a 1 million-square-foot mixed-use office and research laboratory campus in the Chicago suburb of Libertyville. Originally constructed in the 1990s to serve as an R&D facility for the Motorola Corp., Innovation Park spans 83 acres. The property was 71 percent leased at the time of loan closing. Anchor tenants include Valent BioSciences, Medline Industries and Juno Therapeutics. Daniel Rosenberg, Chris Caroll, Logan Petersmeyer and Max Miller of BWE arranged the loan through a depository institution on behalf of the borrowers, a joint venture between Chicago-based developer R2 and Chicago-based JDI Realty. The five-year loan features multiple years of interest-only payments and structured flexibility.
GEORGETOWN AND ROUND ROCK, TEXAS — Baltimore-based St. John Properties has delivered a 45,600-square-foot life sciences building on the northern outskirts of Austin. The building is the first to be completed at Westinghouse Crossing, a 225,000-square-foot mixed-use development located at the southern border of Georgetown and the northern border of Round Rock. The 35-acre development will ultimately feature 170,000 square feet of research-and-development facilities, 40,000 square feet of office space and 15,000 square feet of retail space.
WOBURN, MASS. — Nanoramic Laboratories has signed a 40,000-square-foot office and life sciences lease in Woburn, a northern suburb of Boston. The developer of lithium ion batteries for the automotive and aerospace industries will relocate from nearby Wakefield to 10 Commerce Way, which is owned by Cummings Properties. David Thomann of Cushman & Wakefield represented the tenant in the lease negotiations. Rob Yacobian and John Halsey represented the landlord on an internal basis.
NORWOOD, MASS. — Hobbs Brook Real Estate has topped out a 320,000-square-foot office and life sciences project in Norwood, a southern suburb of Boston, that is a build-to-suit for commercial property insurance company FM Global. The project replaces a 1950s-era building with a four-story office, lab and research and development building and adds a new 930-space parking garage and outdoor amenity spaces. Payette is the project architect, and Shawmut Design & Construction is the general contractor. Completion is slated for 2026. Construction began earlier this year.
WALTHAM, MASS. — ZoomInfo (NASDAQ: ZI) has signed a 101,000-square-foot office and life sciences lease in Waltham, a western suburb of Boston. The business-to-business data and AI-powered sales platform is taking space at 404 Wyman Street, a 384,841-square-foot building that is part of a larger 2.2 million-square-foot development. CBRE represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Newmark represented ZoomInfo.