Medical Manufacturer Inks 247 KSF Lease in MA
- Mar 05, 2019
An ownership group comprising Artemis Real Estate Partners, Drake Real Estate Partners and Pacer Partners has inked a 247,060-square-foot lease renewal and expansion with Nypro Inc., at an industrial property in Devens, Mass.
The property, located at 112 Barnum Road, is a 402,249-square-foot manufacturing building within the Devens Industrial Park. The campus is situated about 45 miles from Boston, Mass., and offers easy access to Interstate 495 and Route 2. Built in 2008 as a Class A solar panel facility for Evergreen Solar, the property last traded for $36 million in 2015.
A Newmark Knight Frank team of Executive Managing Directors J.R. McDonald and Torin Taylor, as well as Associate Ross Gaudet represented the ownership group in the deal.
“Nypro, Inc.’s expansion/extension is a testament to the excellent infrastructure and value that is offered at 112 Barnum Road,” said McDonald, in prepared remarks. “It is also the result of Nypro Inc.’s strong core business and its commitment to Devens, MA.”
Last April, Invesco acquired The Quad, a 199,500-square-foot life science campus in Cambridge, Mass.
Image courtesy of NKF