BOSTON, Mass. — Lightstone has acquired a Class A life sciences campus in the Greater Boston region for $68 million, expanding its presence in the biotechnology and advanced manufacturing sector.
The property at 100 Technology Way is a 122,507-square-foot cGMP biomanufacturing facility located in the Providence submarket. The site is fully leased to Organogenesis, a publicly traded regenerative medicine company. The seller was The Davis Companies.
Lightstone said the acquisition aligns with its strategy to invest in high-quality life sciences and technology-focused assets in leading innovation markets. Mitchell Hochberg, president of the firm, said continued demand for specialized biomanufacturing and research space is driving growth in the sector and positioning the company to support large-scale innovation.
Originally developed in 1993, the facility has housed several major life sciences tenants, including Dow, Alexion, and Rubius Therapeutics. Organogenesis, the current tenant, is known for FDA-approved products such as Apligraf, Dermagraft, and PuraPly, and is investing about $100 million to renovate and upgrade the facility.
The transaction was brokered by Newmark’s capital markets team, including Robert Griffin, Jim Tribble, Sam Hallowell, Tyler McGrail, and Will Sleeper.
Following the acquisition, Lightstone’s life sciences platform totals more than 1.2 million square feet across eight assets nationwide, spanning life sciences, medical office, and technology-oriented properties. The firm also has an active pipeline of roughly 1 million square feet in additional life sciences developments across major U.S. markets.
Founded by David Lichtenstein, Lightstone is one of the largest privately held real estate companies in the country, with more than $12 billion in assets under management and a portfolio that includes industrial, residential, hospitality, and commercial properties across 28 states. (Source: IANS)
