A 7.8-million-square-foot pipeline of office building conversions to lab-ready space accounts for nearly 30 percent of Greater Boston’s life science inventory, exceeding the national average for commercial real estate markets.
A biotech founded at University of Massachusetts Medical School is the first tenant to commit to Nan Fung Life Sciences Real Estate’s conversion of a Boston Seaport District office building into spec life science suites.
Late-night Zoom calls to Hong Kong are just part of the daily drill for Matthew Powers, a Boston real estate executive named in November to head Nan Fung Life Science Real Estate and a man in charge of spending $1 billion on acquisitions nationally this year.
Hong Kong real estate investor Nan Fung has made its first acquisition in Boston just months after establishing a new U.S. office to pursue life science properties, resulting in a quick windfall for the previous owner of 13 months.
Brookfield Asset Management is the winner of a bidding war for a 152,102-square-foot office building in Boston’s Fort Point.
One of the Seaport District’s remnants of affordable office space is expected to be sold to a national real estate investor for over $90 million late this year.
