Northeastern University - Institutional Master Plan

[TomOfBoston]

The Burlington campus is not part of the IMP and almost never mentioned in this forum. But Northeastern just purchased a 109,000 sq. ft. BioLab building in Burlington, not far from the innovation Campus of which it will be a part. The previous owner bought the building from the developer in 2022 for $103 million. Northeastern purchased it from MetLife for $33 million. It is Filene's Basement time in the real estate market in Boston.

Mystery Solved: Northeastern University Buys $33 Million Burlington BioCenter to Expand Research Hub - Boston Real Estate Times

BURLINGTON, MA — The mystery surrounding the recent sale of a prominent suburban life sciences facility has officially been solved. Northeastern University has been revealed as the buyer of the […]

bostonrealestatetimes.com

 

[Czervik.Construction]

Ugh. I feel for the previous owner. 2022 was peak lab real estate. I remember looking for GLP lab space along 128 for an expansion of our footprint and just being floored by the per sq/ft asking prices for places in Woburn and Burlington. It was what Kendal was getting a few years earlier. We had to slow things down a bit since not only were things wildly expensive, it wasn't available. Now, you can get what you want at really good prices.