Image courtesy of CNW Group/Oxford Properties Group Inc.

Moderna will open a new 140,000-square-foot biomanufacturing plant next year that’s being developed by Oxford Properties Group on a 24-acre site.

The pharma giant paid $91 million for the 149 Hayes Memorial Drive property last week. An unsolicited offer from Moderna prompted the sale of the speculative development, Oxford Properties said.

Canadian pension fund investor Oxford acquired the property in 2021 for $2.1 million, according to Middlesex Registry of Deeds records, and received approval to develop the 2-story cGMP manufacturing facility.

“While initially developed with a plan to lease the asset and hold for the long term, Moderna’s unsolicited offer to acquire the property allowed us to expedite our business plan execution,” Chad Remis, Oxford Properties Group executive vice president, said in a statement.

Following an interior buildout, the plant will open in late 2024, Oxford Properties said. The facility includes 36-foot clear heights, four loading docks and multiple freight elevators and will generate more than 200 jobs.

The project is part of a life science development pipeline by Oxford that includes 11 cGMP projects in six North American markets.

In Greater Boston, the company owns fully leased facilities at 92 Crowley Drive in Marlborough and 33 New York Ave. in Framingham, and recently completed a 108,000-square-foot project at 23 Sycamore Ave. in Medford and 140,000-square-foot project at 172 Middlesex Turnpike in Bedford.