News: Front Section
Posted: December 18, 2020
Colliers advises Vibalogics in 118,000 s/f Life Science deal in Boxborough, MA
Boxborough, MA Colliers International has advised the life science company Vibalogics, in a 118,000 s/f, long-term lease transaction at 1414 Massachusetts Ave. The organization, which specializes in clean virotherapy manufacturing, joined Ampersand Capital Partners’ portfolio in mid-2019 and has actively been expanding its capabilities to meet growing demand for development and manufacturing of complex viral products.
In a full east coast search led by life science advisory leader, Colliers executive vice president Curtis Cole, Vibalogics ultimately selected a Massachusetts location, undoubtedly drawn to the dynamic life science cluster and economy surrounding Greater Boston but also due to pure supply constraints for viable building options.
Working with building owner, Lincoln Property Company, Colliers looked into the requirements and played an encouraging role in satisfying Vibalogics’ demands. Lincoln’s representatives, senior vice president Tim Latham and vice president Chris Devaux, negotiated on behalf of Lincoln Property Company in the transaction.
Joining Cole in this comprehensive search effort were executive vice president John Carroll III, assistant vice president Tim Allen, executive vice president Greg Klemmer, senior vice president Kevin Brawley, and executive vice president Evan Gallagher.
The unique nature of Vibalogics’ facility needs focused the search on buildings that could accommodate its specific clear height, power, and other programmatic needs. 1414 Massachusetts Ave. emerged as a true option when it was confirmed that a portion of the two-story, 16-foot clear, R&D/flex building could undergo conversion to 30-foot clear space. The creativity of the Vibalogics team solidified this solution for their long-term U.S. facility.
Cole said, “When it comes to creative space users, we have learned to never underestimate the possibility for unique, outside the box solutions.”
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