Boston Properties Acquires Lab Properties In Waltham, Massachusetts - Quick Facts

(RTTNews) - Boston Properties, Inc. (BXP) announced Friday that it has acquired 153 & 211 Second Avenue, two lab properties comprising 153,000 square-feet in Waltham, Massachusetts, a highly desirable location for leading and emerging companies in the life sciences and biotechnology sector.

The Company acquired the two lab buildings from an affiliate of Montana Avenue Capital Partners, LLC for a gross purchase price of $100 million in cash.

153 & 211 Second Avenue are 100% leased to a leading pharmaceutical company and are adjacent to BXP's 200 West Street building, a 272,000 square feet property, a portion of which was recently converted to lab space, that is 100% leased to Translate Bio.

The acquisition builds on BXP's 4.9 million square feet of lab and Class A office properties in the Waltham/Lexington region of Massachusetts.