LakePharma Buys 69 KSF Building in MA
- Feb 26, 2018
LakePharma Inc., a biologics service provider, has expanded its Massachusetts presence with the purchase of a 69,009-square-foot building in Hopkinton from a subsidiary of Midway Corp. The asset traded for $4.6 million in a deal brokered by Colliers International Boston, who worked on behalf of the seller.
The property is located at 35 South St., roughly 35 miles west of downtown Boston and in close proximity to interstates 495 and 90. The site’s last tenants were Olympus Biotech and Bristol-Myers-Squibb, after being the long-time home of Stryker Biotech. The new owner will remodel the existing space according to its needs in performing GMP biologics manufacturing for Phase 1 clinical trials.
Midway Corp. originally wanted to lease the building, but, due to strong interest from manufacturing groups in purchasing the asset, decided for the disposition. Colliers’ team included Executive Vice President John Carroll III, Senior Vice President Stephen Woelfel Jr. and Assistant Vice President Kevin Brawley, while JLL’s Phil Desimone represented the buyer.
Image courtesy of Colliers International