Burlington

Lab building in suburban Boston poised to sell at big loss

The building had just recently been converted from offices to labs

By Greg Ryan • Published November 21, 2024 • Updated on November 21, 2024 at 3:21 pm

A lab building in Burlington that traded for $103 million two years ago is back on the market, with expectations that it could sell at around a third of that price, if not lower.

When the global insurance giant MetLife bought the 109,000-square-foot Burlington BioCenter in November 2022, it was fully leased to three life sciences companies, Ultivue, ProtaGene and CANbridge. The building had just recently been converted from offices to labs.

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