Lexington Technology Park
123 Patriot Way
Permitted up to 1.1 million-square-feet
Lexington Technology Park is one of the best places to do business in the Commonwealth of Massachusetts. Located at the intersection of Route 128 and Route 2 – just minutes from Boston, Cambridge, and the largest cluster of technology, healthcare, and educational organizations in the world – Lexington Technology Park is a premier choice for businesses seeking high quality office, research, and manufacturing space. The park’s scenic campus setting, ideal highway access, pre-permitted development sites, and location in one of the state’s fastest growing suburban biotechnology hubs give it a natural competitive advantage over other business locations.
Patriot Partners – a partnership of leading local development firms Atlantic Management and Mohawk Partners – purchased the 96.5-acre site in 2003. In November 2009, the Town of Lexington enthusiastically endorsed a plan to expand Lexington Technology Park by 380,000-square-feet of space on two development-ready sites. This planned expansion follows a dramatic six-year transformation of the former Raytheon Global Headquarters into a leading regional destination for world-class biotechnology and technology companies. The park is now home to Shire Pharmaceuticals’ Human Genetic Therapies Division, other growing firms, and nearly 40 acres of preserved open space.
- 2003: Patriot Partners purchases former Raytheon Global Headquarters.
- 2004: Patriot Partners secures Lexington Town Meeting approval to rezone the property for life sciences and high-tech uses, and expand development at the site.
- 2004: Construction begins to revitalize existing facilities at Lexington Technology Park.
- 2006: Patriot Partners begins marketing the park to cutting-edge biotechnology tenants.
- 2007: Shire Pharmaceuticals begins relocating its Human Genetic Therapies Division to Lexington Technology Park, supported by a TIF agreement from the Town of Lexington.
- 2007: Lexington Town Meeting members approve Patriot Partners’ expanded redevelopment plans for Lexington Technology Park, paving the way for a $394 million capital investment by Shire in the site’s existing facilities and the construction of several additional buildings.
- 2008: Shire breaks ground on its first new building at Lexington Technology Park.
- 2009: Lexington Town Meeting endorses an additional 380,000-square-feet of development at Lexington Technology Park on two development sites. At build-out, the Park will generate $2.2 million in annual new tax revenues for the Town.
- 2010: Patriot Partners sells Lexington Technology Park to Shire for $201 million.