Clarion Partners has secured a $94 million loan to refinance Linx, a 185,000-square-foot, Class A life sciences property that opened six years ago in Watertown, Mass., a suburb of about 35,000 people eight miles west of downtown Boston.
The five-year loan, valued at $94 million, was provided by Société Générale under the leadership of Managing Director, Tim Hallock, while a JLL Capital Markets debt advisory team of Riaz Cassum, Amy Lousararian and Robyn King played a key role in arranging the financing for this deal.
“Despite the recent softening in the life sciences market, Watertown’s East End, where LINX is located, remains a key life sciences cluster,” Cassum said. “Ongoing investment and redevelopment in the immediate vicinity by several major institutional investors validates this submarket’s presence on the national life sciences stage.”
Located within Watertown’s East End life sciences cluster, 490 Arsenal Way — also known as Linx — is a two-story, glass building offering a range of modern amenities. These include a 33-foot-high lobby, storage for 78 bikes, locker rooms with showers, on-site parking, an electric vehicle charging station and a shuttle service to Harvard Square. The property also features a bocce ball court.
The property’s strategic location also provides convenient access to downtown Boston, Logan Airport and surrounding suburbs via the Massachusetts Turnpike/I-90. Linx is also situated near Arsenal Yards (a mixed-use redevelopment project) and adjacent to the Watertown Mall.
Since its opening in 2018, Linx has remained fully leased. Clarion Partners acquired the property in 2019, and the building continues to be occupied by three tenants — C4 Therapeutics, Addgene and Tectonic Therapeutic.
Are you looking for office space for rent? Select any market from the list of locations linked below or visit the CommercialCafe.com home page to start your search!
