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Boston & New England  + Metro Boston  + Office  | 
Outshine Properties and Jadian Capital have acquired the office building 690 Canton Street in Westwood, MA for $32 million.

Outshine Properties, Jadian Capital Spend $32M for Office-to-Life Science Conversion Opp

Outshine Properties and Jadian Capital have acquired 690 Canton Street in the Boston submarket of Westwood, MA for $32 million. The office building with life science conversion potential will deliver 140,000 square feet of prebuilt lab space in Q2 2023.

A Newmark team of Robert Griffin, Edward Maher, Matthew Pullen Samantha Hallowell represented the seller, L&B Realty Advisors. Newmark also arranged financing for the transaction with J.P. Morgan.

The four-story building, with more than 164,000 square feet of space, is currently 73% leased to seven tenants. The building features reusable in-place infrastructure for laboratory tenants with 13-foot, floor-to-floor heights and basement-level support spaces including a loading dock and mechanical and electrical rooms.

The Canton Street building is near a number of new life science, biomanufacturing and R&D developments.  Its acquisition follows Outshine Properties’ and Jadian Capital’s November 2021 purchase of The Labs @ 9/90, a four-building office and laboratory campus in Framingham, MA.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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