Clarion Partners Real Estate Income Fund Inc. (CPREIF) Acquires Biomanufacturing Facility in Braintree, MA
Summary
SAN MATEO, Calif.--(BUSINESS WIRE)--Clarion Partners Real Estate Income Fund Inc. (CPREIF) has acquired a 58,935-square foot biopharmaceutical facility located on more than three acres at 55 Messina Drive in Braintree, MA. The property – which features six wet labs, temperature-controlled rooms, a new water filtration system and 18.5’ ceiling heights –is a life science good manufacturing practices (GMP) facility and is 100% leased to Zimmer Biomet, a global leader in musculoskeletal healthcare. “This is a great opportunity to purchase a strategically located property with an established tenant in this hot industrial submarket,” said Clarion Partners Managing Director Onay Payne. Braintree’s Red Line station within Boston’s subway system, commonly called the T, is located approximately three miles from the property, providing direct access to Cambridge, a nexus of life science and biotech companies that is also the home of Harvard University and the Massachusetts Institute of Technology (MIT). INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE ©2021 Legg Mason Investor Services, LLC, member FINRA, SIPC.