Devens, MA King Street Properties, one of the largest owners of lab space in the U.S., has launched a new initiative named Pathway which will provide life science tenants with customizable, flexible, biomanufacturing space. The launch came at a project kickoff ceremony which included elected officials and the CEO of MassDevelopment.
King Street principal, Stephen Lynch, said that a 45-acre parcel of land it purchased in Devens will become the site of the first project under the new Pathway brand. “Through this project, we will, quite literally, be paving the way to tomorrow’s cures for our tenant companies. Our Devens project will become the first multi-tenant, multi-building biomanufacturing campus in the world. This announcement couldn’t be more timely or important. Now more than ever we need to give life science companies the ability to manufacture their products locally...and fast.”
The project is sized to accommodate 700,000 s/f in a $500 million, five-building campus featuring flexible interiors, structural capacity for mechanical equipment, upgraded power, utilities, and 36’ interior clear heights, all geared to the needs of biomanufacturing companies.
The first building, of 100,000 s/f, will be built at 45 Jackson Rd. and will deliver in 2021.
CBRE has been hired as the exclusive leasing agent for King Street Properties’s project on Jackson Rd. A veteran CBRE team led by executive vice president Brian McKenzie will spearhead the leasing and marketing campaign for the property.
King Street project manager Teri Ford said that Pathway is more than a collection of buildings. “Through the Pathway platform, King Street will help tenants with key real estate services including design, permitting and construction managment, resulting in shorter timelines, allowing companies to produce their medicines in-house thereby providing a quicker product-to-market timeline.”
Lauren Liss, president and CEO of MassDevelopment, said “Devens is a perfect location for King Street’s exciting project. The community is already home to an ecosystem of other prominent life science and manufacturing companies that are innovating and developing the products of the future right here in north central Massachusetts. In addition, this project will have access to a pipeline of well-trained graduates from its neighbor, Mt. Wachusett Community College’s Devens campus, which offers STEM and manufacturing programs.”
“The biomanufacturing sector is starting to take off and is being launched nationally in a meaningful way,” said Mr. McKenzie. “The goal of Pathway is to get tenants into state-of-the-art facilities as easily and quickly as possible, allowing these companies to keep their medicine delivery timelines on track.”
King Street assembled an experienced team of partners to assist with this initiative including BW Kennedy, R.E. Dinneen Architects and Highpoint.
