Oxford Purchases Boston Biomanufacturing Facility in $125M Sales Leaseback

Oxford Properties Group has completed the purchase and long-term lease back of 92 Crowley Drive. The asset is a 120,000 square foot state-of-the-art biomanufacturing facility under construction and near completion in the Boston life sciences submarket of Marlborough, MA. As part of a real estate transaction with Resilience, Oxford will acquire the building and lease the property back to Resilience for up to 30 years.

The acquisition grows Oxford’s existing North American cGMP portfolio to 1.4 million square feet with an additional development pipeline of over 1 million square feet.  Oxford’s North American cGMP platform and pipeline has 12 facilities across six markets, with the largest concentration in the Boston region totaling 775,000 square feet.

Upon completion this year, 92 Crowley will be Resilience’s flagship facility in the US with state of the art analytical and manufacturing technology. The facility will have multi-modality manufacturing capabilities with dedicated manufacturing suites and complementary office and warehouse space.