Boston—Newmark announced Homology Medicines’ 91,500-square-foot lab lease extension and expansion at One Patriots Park in Bedford, MA.
The clinical stage genetic medicines company, which engages in the design and development of treatments to address rare diseases at the genetic level has expanded its headquarters in Bedford.
The transaction included the extension of Homology Medicines’ current 68,500-square-foot lease and expansion into an additional 23,000 square feet.
“The goal at One Patriots Park was to bring in supplemental, lab-ready infrastructure and work with our prospective tenants to ensure their laboratory needs would be met,” said Nick Trocki, Vice President and Asset Manager with Jumbo Capital. “Between a great team and solid tenant partnerships we were able to deliver functional Class A lab space and execute on our business plan very efficiently.”
Newmark Managing Director Matt Malatesta and Executive Managing Director Torin Taylor
represented the asset owner, Jumbo Capital, a privately-held commercial real estate investment and management firm focused exclusively in Massachusetts.
Homology Medicines was represented by Paul Delaney and Dan Sullivan of Cresa.
“Since its December 2020 acquisition of One Patriots Park, Jumbo Capital has continued to
invest in the lab infrastructure,” said Malatesta. “Those investments have proven fruitful, with this being the third lease signed at the property under Jumbo’s ownership.”
Taylor added, “The life sciences market in the Boston area continues to see unprecedented
demand. We were pleased to negotiate this deal which will allow Homology Medicines to remain and expand in its current space.”
One Patriots Park is in the burgeoning Hartwell/Wiggins life science cluster in the greater Boston metro area. Situated off Interstate 95 (Route 128), the property offers seamless accessibility to surrounding amenities and Boston by MBTA shuttle service or the Minuteman Commuter Bikeway.