Newmark brokers Lightstone’s $68 million acquisition of 122,507 s/f 100 Technology Way

Smithfield, RI Lightstone, one of the leading and most diversified privately held real estate companies in the U.S. with more than $12 billion in assets under management, acquired 100 Technology Way from Davis for $68 million — marking the continued expansion of the firm’s life science portfolio. The 122,507 s/f Class A cGMP biomanufacturing facility, located in the Providence submarket of Greater Boston, is fully leased to Organogenesis.

We are continuing the thoughtful expansion of our life sciences portfolio, driven by strong demand for high-quality biomanufacturing, R&D, and technology-focused assets,” said Mitchell Hochberg, president of Lightstone. “This growth positions us to support innovation at scale in key markets. The acquisition of 100 Technology Way is a compelling opportunity to add a highly specialized, Class A cGMP asset in one of the nation’s most established biotech hubs.”

Originally developed in 1993 by ABT, the property has a history of blue-chip life sciences tenancy, including industry leaders such as Dow, Alexion, and Rubius Therapeutics. The 122,507 s/f  biomanufacturing facility is currently fully leased to Organogenesis Holdings Inc., a publicly traded biotechnology company focused on regenerative medicine and advanced wound care. Recognized for its FDA-approved and revenue-generating products, including Apligraf, Dermagraft, and PuraPly, Organogenesis is investing approximately $100 million to renovate the biomanufacturing facility.

Newmark’s capital markets team, led by Rob Griffin, Jim Tribble, Sam Hallowell, Tyler McGrail, and Will Sleeper, brokered the transaction. 

With this acquisition, Lightstone has expanded its life sciences platform to more than 1.2 million s/f across eight assets nationwide, spanning life sciences, medical office, and technology-focused investments. The platform also includes an active pipeline of an additional 1 million s/f in major life sciences markets.