News:
Owners Developers & Managers
Posted: November 25, 2022
The Gutierrez Company and GEM Realty Capital sell Burlington BioCenter for $103 million - sold to MetLife Investment Management
Burlington, MA Newmark negotiated the $103 million sale of Burlington BioCenter, a newly delivered life science asset that is located 15 miles northwest of Boston.
Newmark co-head of U.S. capital markets Robert Griffin, executive vice chairman Edward Maher, vice chairman Matthew Pullen and managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, The Gutierrez Company and GEM Realty Capital, and procured the buyer, MetLife Investment Management.
Additionally, Newmark’s Boston Debt & Structured Finance Group, led by executive managing directors David Douvadjian, Sr. and Timothy O’Donnell, secured financing for the buyer.
Totaling 109,085 s/f, Burlington BioCenter underwent a first-class conversion from office to life science use with base building delivery in late 2019 and its final tenant buildout recently completed. The asset is 100% leased to three users: biotechnology firm Ultivue, contract research organization ProtaGene and biopharmaceutical company CANbridge.
“Burlington BioCenter is a core life science asset in a fast-growing laboratory cluster along the coveted Route 128/Interstate 95 corridor,” said Pullen. “Its thoughtful conversion prioritized high-performance laboratory infrastructure, energy-efficient building systems and fully customizable tenant spaces, creating an ideal environment for mid-sized users.”
With an address of 4 Burlington Woods Dr., Burlington BioCenter is situated at the intersection of Rte. 3 and I-95/Rte. 128. This provides the asset with immediate access to Burlington’s wealth of amenities and enables it to offer swift connectivity to both Boston and the New Hampshire border.
Senior financial analyst Nickolas Revers provided financial analysis support for the transaction.
MORE FROM Owners Developers & Managers
Windsor approves redevelopment of 500 Day Hill Rd. for mixed-use residential community
Windsor, CT The town has granted approvals for the redevelopment of 500 Day Hill Rd., clearing the way for a mixed-use residential community that will convert a former office campus into a housing development totaling approximately 300 residential units
.png)
Quick Hits
Columns and Thought Leadership
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
 (1).png)