News: Front Section

Cummings Properties leases 24,000 s/f to Absorption Systems

Woburn, MA Absorption Systems, a Pharmaron Company, has expanded its Massachusetts operation with a 24,000 s/f lease at 12 Cabot Rd. After outgrowing its previous local facility in Medford, Absorption Systems is gradually transitioning its workforce to the custom-built Cabot Rd. space. Teams at the new facility will provide preclinical research and testing services for regulatory agencies as well as pharmaceutical, biotech, and medical device companies.

“We are a fast-paced organization, and our growth is constant,” said Patrick Dentinger, Absorption Systems’ SVP and managing director. “Cummings was able to efficiently build and deliver a large, specialized facility that will accommodate our continued development.”

Cummings Properties leasing officer Steve Cusano worked with Dentinger and Cresa principals John Coakley, Paul Delaney, and Simon Terry-Lloyd on the transaction. Cummings’ in-house design and construction teams performed a custom lab, vivarium, and office buildout.

“With so little lab space available in greater Boston, many biotech firms have had to lease flex and office space that can then be converted to a lab,” said Cusano. “In today’s market especially, Cummings’ ability to construct sophisticated labs in a timely, cost-effective manner makes it an attractive partner for life science companies.”

Among Absorption Systems’ new neighbors are biotech firms Azurity Pharmaceuticals, Amgen, SolidEnergy Systems, Bio2 Technologies, and MarvelBiome.

Located at the intersection of I-93 and I-95, 12 Cabot Rd. is also within easy walking distance of the newly redeveloped Woburn Village. This mixed-use site has an outdoor market feel similar to the 3rd Avenue complex in Burlington and MarketStreet in Lynnfield.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary