News: Front Section

Cummings Properties signs Cryogenetics to 5,400 s/f at 14 Gill Street

Norway-based Cryogenetics has leased 5,400 s/f of industrial flex space at Cummings Properties' 14 Gill St. to house its U.S. division. In late summer, the biotech firm expects to open a cryopreservation laboratory that will be the only one of its kind in the country. Derek Cook, leasing director at Cummings Properties, said, "A pioneer in its field, Cryogenetics will be an excellent addition to our thriving biotech cluster at Gill St." Cryogenetics' neighbors will include Courtagen Life Sciences, EMD Millipore, and PathoGenetix, among other notable biotech firms. Debra Stevens, a partner and principal of The Stevens Group, represented Cryogenetics in the transaction. Cryogenetics preserves zebrafish sperm, known as milt, for use in scientific research, storing it in specialized tanks at temperatures of about -250 degrees fahrenheit. Jorn Ulheim, managing director, likens the 10-year-old company to a fertility clinic that banks sperm for possible future use. Instead of hopeful parents, however, Cryogenetics' clients are biomedical researchers. The privately held firm was drawn to the Boston area by the relatively large concentration of zebrafish-based research taking place at local universities and hospitals. The R&D area within Cryogenetics' new facility will be used to conduct research to adapt the firm's technologies for other fish species, allowing it to serve additional industries, such as commercial fishing and wildlife conservation. According to Ulheim, affordable rates as well as easy accessibility to major highways and Logan Airport, made Woburn an attractive location. He also cited the numerous nearby business amenities as a draw. Ulheim said, "It's the perfect distance from the city. And support-wise, everything we need - such as banks and hotels - is right here, which is a benefit for us."
MORE FROM Front Section
Front Section

McEvoy of The Conrad Group brokers $2.9 million sale of industrial building

Hingham, MA The Conrad Group  has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
5 Questions to ask when  choosing a real estate broker - by Elizabeth Perez Barlett

5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett

>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
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.
It’s time to get creative with closed college campuses - by Christian Koulichkov

It’s time to get creative with closed college campuses - by Christian Koulichkov

Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.