Boston Properties added to its suburban life science portfolio with the $100 million acquisition of a pair of Waltham lab properties totaling 153,000 square feet.
The properties at 153 and 211 Second Ave. sit next to Boston Properties’ 200 West St. building, which was the site of a recent lab conversion and is leased to Translate Bio.
The seller was an affiliate of Montana Avenue Capital Partners LLC, which acquired the two buildings from Genzyme Corp. in 2019 for $68.5 million.
“Waltham continues to be a dominant urban edge location for life sciences organizations that want to attract and retain highly-educated talent,” Boston Properties Executive Vice President Bryan Koop said in a statement.
The primarily office-focused REIT also plans a speculative conversion of 880 Winter St. in Waltham into 224,000 square feet of lab space, executives said in April. It’s also planning new construction of a 330,000-square-foot lab building at 180 CityPoint in Waltham.
Boston Properties’ BXP Life Sciences arm owns more than 3 million square feet of property in Greater Boston, San Francisco and Los Angeles.