Demand for life science space continues outside of Cambridge and Route 128 Corridor
Organogenesis, a regenerative medicine company, will lease 43,850 square feet of lab and manufacturing space at 333 Providence Highway in Norwood, Massachusetts. Cushman & Wakefield, a leading global real estate firm, represented the landlord, The Davis Companies and Landmark Real Estate Advisors represented the tenant.
Cushman & Wakefield’s team involved in this deal included Managing Director Rob Byrne, Executive Director Paul Leone, Managing Director Ryan Romano, Senior Associate George O’Connor and Associate Philip Verre.
With expanding demand for life science and manufacturing space outside of Cambridge and the Rt. 128 Corridor, 333 Providence Highway offers companies like Organogenesis robust existing lab infrastructure. Brands like Moderna, Fresenius and American Biotechnology looking for life science space have now turned south of Boston to tap into a rapidly emerging market. Located less than 3 miles from Route 128, and I-95 at Neponset Street, 333 Providence provides a high-visibility location directly fronting one of the state’s most heavily traveled roads with a traffic count of 65,000 cars.
The diverse single-story buildings consist of 86,450 square feet of first-class office space, high-tech lab space and flex product. The site is surrounded by numerous amenities as well, in close proximity to Route 1, Legacy Place in Dedham and University Station in Westwood. 333 Providence Highway currently has 26,500 square feet of available Flex/R&D/Office space.
“There is a large need for high-end lab and Flex/R&D space in the south market” said Rob Byrne, Managing Director at Cushman & Wakefield. “The convenient location near a multitude of retail, dining and hospitality amenities has already appealed to firms looking to attract a strong talent base.”
Organogenesis Inc. is a leading regenerative medicine company focused on the development, manufacture and commercialization of product solutions for the advance wound care, surgical and sports medicine markets. Originally founded as a spin-off of technology developed at the Massachusetts Institute of Technology (MIT), Organogenesis acquired NuTech Medical in 2017, which further expanded its portfolio and presence in the surgical and sports medicine markets. Today, Organogenesis has approximately 600 employees worldwide.
About Organogenesis
Organogenesis Inc. is a leading regenerative medicine company focused on the development, manufacture and commercialization of product solutions for the advanced wound care, surgical and sports medicine markets. The company’s mission is to provide integrated healing solutions that substantially improve medical outcomes and the lives of patients while lowering the overall cost of care.
About The Davis Companies
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $6.2 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 10.2 million square feet of office, retail, hospitality, light industrial, healthcare and life science properties and approximately 5,000 residential units across the Eastern United States. For further information, visit www.thedaviscompanies.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
