May 20, 2020
Life sciences real estate development company IQHQ has acquired Innovation Park, a 200,000-square-foot life science campus in Andover. Colliers represented IQHQ in the transaction. The sales price and seller was not disclosed. The campus is located at 4 Corporate Drive in Andover, on the 495 corridor.
Tenants UMass Lowell and Ora, Inc have signed long-term leases with IQHQ at the property. IQHQ plans to update the Innovation Park property. The redesign will add new amenities, including a first-class café with indoor and outdoor seating, a fitness center also with both indoor and outdoor workout areas, and common area improvements.
“It is exciting to see IQHQ expand and diversify its life science portfolio in Massachusetts, and it is encouraging to see continued investment in the Greater Boston biotech sector in the middle of the pandemic that has had such an impact on our lives and economy,” said Robert Coughlin, CEO at MassBio. “As the top life sciences cluster in the world, Massachusetts is playing a critical role in the search for new treatments for COVID-19, and as this deal illustrates, the biotech industry will also play a major role in our economic recovery.”
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