BOSTON & NEWTON, Mass.--(BUSINESS WIRE)--The Bulfinch Companies, Inc. (Bulfinch), a commercial real estate and investment firm, and LabShares Newton today announced the expansion of the life science and biotech co-working incubator at Chapel Bridge Park in Newton, Massachusetts, with an additional 25,000 square feet of space, bringing LabShares’ total leased premises at the complex to approximately 40,000 square feet.
“LabShares is filling an important need in the biotech ecosystem, and we are excited to be expanding our operations in Newton to meet the strong demand we are seeing for shared lab space in the Greater Boston area,” said Jeff Behrens, CEO of LabShares. “Biotech firms can start working immediately upon moving in, and benefit from an all-inclusive, full-service support program provided by LabShares’ team to handle environmental, safety, training, purchasing and other key lab management requirements.”
LabShares is a flexible, turnkey lab and coworking office space for life-science and biotech startups. The company’s expansion at Chapel Bridge Park will include private laboratory suites, shared lab resources (including a lentiviral and tissue culture suites), and dedicated benches in the BSL2 laboratory. The coworking format offers start-up companies access to a variety of shared laboratory equipment including, flow cytometry, plate readers, QT PCR, microscopes, HPLC, pure water systems, Western Blot, and cold storage. The facility is scheduled for completion and occupancy in the first quarter of 2022.
“We are thrilled to support LabShares expansion at Chapel Bridge Park,” stated Mike Wilcox, SVP, Director of Leasing at Bulfinch. “Bulfinch continues to expand our life science portfolio and seek partnerships with tenants like LabShares that help life science start-ups meet speed to market demands.”
LabShares’ flexible co-working space offers members the opportunity to minimize overhead and accelerate the timeline for lab facility build-outs by providing immediate lab space. LabShares members include early stage biotechs, venture-funded startups needing temporary space while waiting for construction completion for their permanent labs, and larger international and public companies seeking a beachhead lab operation in the Boston area.
Chapel Bridge Park is a 250,000 SF Office/R&D Campus located just minutes away from the Massachusetts Turnpike with excellent access to Route 128 (I-95) and Boston/Cambridge. Originally built in the 1800s and renovated in 2013, Chapel Bridge Park features brick and beam light-filled interiors with oversized ceilings and operable windows that create a unique aesthetic with modern design features.
The property consists of eight buildings with superior on-site amenities including Fooda, a workplace food program, and on-site mini market, indoor bicycle storage, a fitness area with lockers and showers and free parking. Set in an amenity convenient location along the Charles River, Chapel Bridge Park provides a variety of walkable retail options just five-minutes away from restaurants, coffee shops, salons and other everyday services.
Current availability at Chapel Bridge Park ranges from 2,500 SF to 28,500 SF of space. Bulfinch owns and manages over 3.6M SF of properties with current life science, medical and office space available in Needham, Weston, Wellesley and Cambridge. Please visit www.chapelbridgepark.com and www.bulfinch.com for more information.
About The Bulfinch Companies, Inc.
The Bulfinch Companies, Inc. (Bulfinch) is a third-generation, entrepreneurial, value-added real estate investment firm specializing in the development, acquisition, management, and repositioning of commercial properties in Greater Boston. With close to $3.5 Billion in assets, Bulfinch has built a reputation for identifying opportunities and creating valuable and coveted properties across many industries. The firm’s disciplined approach, entrepreneurial mindset, depth of experience and focus on meeting the needs of their tenants and partners have produced an enviable track record and roster of tenants and investors for more than 86 years.
About LabShares Newton, LLC.
LabShares Newton is a laboratory incubator for emerging biotechnology and life science start-ups. The shared space provides a collaborative, affordable and entrepreneurial research environment for early-stage companies in a convenient location close to Cambridge and Boston. LabShares has developed a state-of-the-art facility that is fully permitted and professionally maintained, offering a variety of support services and amenities. For more information on LabShares, visit www.labshares.com.