With flexible floor plates, heavy floor loads, multiple loading docks, sufficient ceiling heights and ample parking as well as a fitness center, cafeteria and outdoor patio area, the office building at 1 Oak Park Drive in Bedford, Massachusetts, checks many of the boxes for a life sciences conversion play.
BEDFORD, MASS. — A joint venture between Redgate, Optimum Asset Management and AEW Capital Management has acquired a 166,000-square-foot office building in the northwestern Boston suburb of Bedford with plans to implement a life sciences conversion program. Tom Sullivan and Ross Fishman of Cushman & Wakefield arranged $82.2 million in acquisition and conversion financing through Ares on behalf of the joint venture. A construction timeline was not disclosed.