Photo courtesy of CBRE

A Lexington diabetes research firm has signed the first lease at at a Burlington office building being converted into life science space.

Fractyl Health will relocate and expand to 78,000 square feet at GenLabs, a 320,000-square-foot building at 3 Van de Graaff Drive.

The Lexington firm is developing treatments for type 2 diabetes, and plans to relocate in late 2023 to Burlington. The company occupies 30,000 square feet at 17 Hartwell Ave. in Lexington.

CBRE’s Alex Plaisted, Ryan Romano and Tom Hovey represented ownership Jumbo Capital and Apollo Global Management, which bought the property in August 2021 for $76 million.

“The ongoing core and shell lab conversion will provide lab ready infrastructure for Fractyl Health and other life science tenants to flourish and grow,” Nick Trocky, vice president at Jumbo Capital, said in a statement.

In June 2021, Fractyl Health closed on $100 million in series F financing from a group of venture capital investors.

Burlington has seen recent momentum in expanding its life science industry, as developers reposition office parks as life science campuses.

In May, Cambridge-based Broad Institute committed to occupy 125,000 square feet at a new complex being developed by Burlington-based Nordblom Co. and Starwood Capital Group. In August, Burlington officials approved a name change for Nordblom’s Network Drive to Blue Sky Drive, reflecting the property’s transition from tech to life science occupants.

And a recent office-to-lab conversion by Burlington-based Gutierrez Cos. at 4 Burlington Woods Drive, now known as Burlington BioCenter, was leased to three tenants totaling 110,000 square feet.