Nova Biomedical Expands Presence in Billerica

BILLERICA, MA—Nova Biomedical Corp. has acquired its second building in Billercia with the purchase of 165 Lexington Road from KS Partners.

The Waltham, MA-based biomedical developer and manufacturer, acquired 165 Lexington Road, an 80,000-square-foot office, flex and manufacturing building. The deal compliments its 2011 purchase of 39 Manning Road, an 80,000-square-foot also located in the Boston suburb of Billerica.

Brokerage firm Avison Young reported the latest purchase transaction. The building was sold through auction.com on behalf of KS Partners. No financial terms of the sale were released. Avison Young principal Jack Kerrigan and associate Virginia Kerrigan represented Nova in the sale and will market for lease 50,000 square feet of available space on the building's second floor, which can be subdivided to suit multiple users. Colin Whitney, an associate in Avison Young's Boston office, rounds out the leasing team for the space.

Prior to its move in later this year, Nova is planning building upgrades including installation of a new heating, ventilation, and air conditioning system. The company will occupy the entire first floor of the building.

“After evaluating various market options, Nova determined that the purchase of 165 Lexington Road best aligned with its business objectives of continued growth and investment,” says Avison Young's Jack Kerrigan. “With Nova as a stable landlord and corporate neighbor, the building offers an incredible value opportunity for tenants searching for space in the Burlington-Bedford-Billerica submarket.”

Nova Biomedical develops, manufactures and sells advanced technology blood testing analyzers based on electrochemical and optical measuring techniques. The firm employs more than 1,000 people and has sales and service subsidiaries in seven countries and distributors in more than 90 other countries. Nova has manufacturing facilities in Waltham and Billerica, MA as well as Taipei, Taiwan.