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

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.