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Lincoln Property Company and MetLife Investment Management have confirmed that 300 Third Ave., a purpose-built life science property in Waltham, MA, has reached full occupancy. The 143,533-square-foot building is now completely leased to two biotechnology tenants, Biocytogen and BPG Bio, reflecting the continued use of the asset as a dedicated life sciences facility.
Biocytogen, described as a global biotechnology company, has expanded its presence within the building through a new 35,000-square-foot, full-floor lease. The firm initially established its U.S. headquarters at 300 Third Ave. in 2022. With the latest expansion, Biocytogen will occupy more than 70,000 square feet in the property, solidifying the building as a key hub for its U.S. operations.
The balance of the space at 300 Third Ave. is leased to BPG Bio, giving the asset a fully committed roster of life science users. The building was developed specifically for life science use, and the two-tenant occupancy structure underscores its role as a specialized biotechnology environment rather than a multi-tenant general office property.
Scott Faber, senior vice president at Lincoln Property Company, noted that the firm is working closely with both Biocytogen and BPG Bio as they expand their operations in the building. He commented that 300 Third Ave. was designed to serve best-in-class life science clients and that achieving full occupancy reflects how the market has responded to those specifications.
On the leasing side, Lincoln Property Company was represented by an internal team of Tim Latham, Christopher Scott and Chris Devaux, who acted on behalf of the ownership. Biocytogen was represented in its expansion and extension by Tim Allen, a senior vice president with Colliers. These brokerage roles covered both the new 35,000-square-foot lease and the related extension activity that increased Biocytogen’s total footprint at the property.
The property is owned by clients of MetLife Investment Management, which holds the asset within its investment portfolio. 300 Third Ave. is located within the Route 128 life sciences cluster, a corridor that is recognized for its concentration of biotechnology and life science facilities. The building’s full-lease status, supported by long-standing biotechnology users, positions it as a fully utilized life science asset within this established regional cluster.
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