HOUSTON – (Realty News Report) – McCord, a Houston-based real estate firm, has acquired a former GlaxoSmithKline facility near Boston, marking a strategic step in the company’s expansion into the life sciences sector.
In Houston, McCord is widely recognized for its 4,200-acre Generation Park development, where the firm is constructing a 100,000-square-foot medical office building.
McCord recently added Shawn Cloonan, former Chief Operating Officer of the Texas Medical Center and an experienced life sciences executive, to its leadership team.
“Our approach to real estate is intentional,” said Ryan McCord, President of McCord. “When we evaluate existing buildings for repositioning or land for new development, we consider how the project will positively impact both the asset and the surrounding community. Boston, like Houston, is a hub of innovation. It’s increasingly important for us to deliver human-centered real estate in these innovation centers to support advancement in medical and life science fields.”
To support its new presence, McCord has opened an office in Boston and now describes itself as “a Houston and Boston-based opportunistic real estate company.”
MetroWest Life Sciences Cluster
The Boston property, known as 30 Bearfoot, is a 64,736-square-foot GMP biomanufacturing and research-and-development facility. (GMP, or Good Manufacturing Practice, refers to regulatory standards that ensure consistent quality in pharmaceutical and other critical manufacturing processes.)
30 Bearfoot sits within Boston’s MetroWest Life Sciences Cluster. McCord purchased the building from a subsidiary of Alexandria Real Estate Equities, which had owned the property for 15 years.
“This acquisition positions McCord for continued growth in the life science markets of both Boston and Houston,” the company said.
The MetroWest Life Sciences Cluster is home to leading industry companies, including AbbVie, Boston Scientific, Sanofi Genzyme, and Sunovion, and benefits from strong regional research and commercialization activity.
“Recent months have underscored the importance and complexity of biology,” said Quentin Hart, a Boston-based partner at McCord. “We recognize how critical it is to create spaces that enable rapid development and scalable production of discoveries that will drive the future of biomedical innovation.”
Sept. 25, 2020 Realty News Report Copyright 2020
File: McCord Buys Former GlaxoSmithKline Property
File: (2) Boston. MetroWest Life Sciences Cluster, AbbVie, Boston Scientific, Sanofi Genzyme, Generation Park. 9-25-20 McCord Buys Former GlaxoSmithKline Property
