Berkeley Garbe has broken ground on a new speculative flex and R&D project along the Route 3 corridor in Billerica, MA, adding modern industrial space to a submarket long driven by advanced manufacturing and research users. The Boston-based real estate firm is moving forward with a 150,000-square-foot building at 161 Concord Road, positioned to serve companies seeking contemporary space in a historically innovation-focused region.
The project is being designed to respond to what Berkeley Garbe describes as growing demand from advanced manufacturing and R&D tenants whose operations have outpaced the capabilities of older facilities. According to Dan McGrath, SVP and director of asset management for the firm, many users along the Route 3 and I-93 corridors are limited by an aging stock of flex and R&D properties that no longer align with current operational and technical requirements. The new development is intended to provide a modern alternative for these space-constrained occupiers.
McGrath emphasized that the regional manufacturing and innovation economy continues to expand, but that functional obsolescence in existing flex and R&D inventory is creating friction for companies that need more efficient, purpose-built space. Berkeley Garbe views 161 Concord Road as well situated to address that gap for a range of innovation-driven businesses in the area. While specific building features were not detailed, the project is planned as a contemporary flex and R&D facility intended to support highly technical operations.
Site work and vertical construction are reported to be well underway, with the development team targeting completion by April 2027. Berkeley Garbe is delivering the project entirely on a speculative basis, opting to bring the building to market without pre-committed tenants. McGrath noted that this approach is intended to align with tenant timing needs, allowing companies with near- to mid-term occupancy requirements to secure space without waiting for a full build-to-suit schedule.
For leasing, Berkeley Garbe has retained Avison Young to lead marketing efforts for the property. The assignment is being handled by Jason Levendusky and Michael Dalton, along with their team, who will be responsible for engaging prospective flex and R&D tenants interested in locating along the Route 3 corridor. No lease commitments, target tenant profiles, or rental terms were disclosed at this stage of the project.
