Site of Vibalogics campus sells for $76M, marking dramatic value jump
Photo | CoStar
1414 Massachusetts Ave. in Boxborough is leased to Vibalogics, who invested $150 million in renovations.
A real estate management firm paid $76 million for a lab and office complex in Boxborough, which became the site of a major expansion for German biologics company Vibalogics just over a year ago.
In 2020, Vibalogics announced its lease at the Boxborough property where it would conduct a $150-million construction of a virotherapy manufacturing center spanning 110,000 square feet. Vibologics was selected to be one of Johnson & Johnson’s manufacturing partners for its coronavirus vaccine.
The roughly 250,000-square-foot property at 1414 Massachusetts Ave. was formerly part of the east coast headquarters for Cisco Systems, the California tech company which sold the final remainder of its Boxborough campus in July.
An entity registered to the address of Dallas-based Lincoln Property Co. bought the campus from Cisco for $6.3 million in 2017, per the Middlesex South Registry of Deeds. The Town of Boxborough assesses the property at $18.9 million.
Lincoln Property Co. was represented by Frank Petz and Matthew Sherry of the Boston branch of Canada-based real estate firm Colliers International in Friday's sale.
The buyer was Stockbridge, a real estate management firm headquartered in San Francisco. The price increased roughly $70 million over the course of the last four years with the help of Vibalogics’ expansion project.
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