Redgate, Optimum Asset Management, and AEW have successfully completed the core and shell of Bedford Labs in Massachusetts. This state-of-the-art lab and research facility is located at 100 Crosby Drive. The first phase of Bedford Labs, a fully renovated 288,000-square-foot space, is now fully leased with Sarepta Therapeutics as its anchor tenant.
To meet the increasing demand from life sciences, clean technology,and tough technology tenants,the team has secured approvals for an additional 300,000 square feet of lab,research,and biomanufacturing space at Bedford Labs. Another nearby facility,Riverwalk Labs,is set to open in October 2023 with a total area of168 ,000 square feetand offers various on-site amenities.
According to Tom Hamill,a principal at Redgate,the Middlesex Route3 Corridor has seen close to1 .2 million square feetof leasing activity by life sciences tenants since the beginning of2022.More than halfof this growth has been inBedford,making it thesecond most active submarketin terms off leasingspace across Greater Boston region after Cambridge/Somerville.
The latest developments are expected to further boost this thriving market for life science companies without mentioning any specific organization or project names.
