BOSTON– Greatland Realty Partners and Singerman Real Estate announced that they have closed on the acquisition and financing of 10 Maguire Road in Lexington, MA.
The four-building, 288,528 square foot creative office and R&D property is a joint venture between Greatland and Singerman, and is the second investment partnership between the two firms to date following the recent groundbreaking on Revolution Labs, a new 180,000-square-foot life science lab building also in Lexington. As with Revolution Labs, Jones Lang LaSalle (JLL) has been engaged as leasing agent and property manager.
“10 Maguire Road represents an exciting opportunity to provide lab-ready space almost immediately to the supply constrained life science sector,” said Keegan Mehlhorn, Director of Investments at Greatland Realty Partners.
Centrally located in an established life science and technology cluster on Hartwell Avenue in Lexington, 10 Maguire Road is less than 10 minutes from the I-95/Route 128 and Route 3 interchange (the nexus of Burlington and Waltham), offering excellent highway access to Boston, Cambridge, and surrounding affluent communities.
With flexible floor plates, ample column spacing, and multiple loading options, 10 Maguire Road presents an attractive retrofit opportunity for leading life science companies seeking to expand their physical footprint in a market with extremely limited supply of existing lab space. The property also features Revolution Hall, a new open-air communal eatery with large garage door walls and plenty of indoor and outdoor seating that serves as an unrivaled amenity to 10 Maguire tenants and the surrounding market.
“We are excited to grow our national life science portfolio and our presence in Boston by teaming up with Greatland on our second investment together in the Greater Boston area,” said Joe Concepcion, Head of Asset Management at Singerman Real Estate. “The combined experience of our two firms, along with the leasing prowess of JLL, makes for a strong multidisciplinary team with the ability to create incredible new opportunities for life sciences and R&D in this market.”
JLL is currently accepting lease inquiries for 10 Maguire Road from leading life science and technology companies. More information on the 10 Maguire Road can be found by visiting www.greatlandpartners.com/portfolio.