SMITHFIELD – Lightstone, a New York-based real estate company, has acquired the 100 Technology Way property that is currently being leased by regenerative medicine company Organogenesis Holdings Inc. for $68 million.
Previous property owner The Davis Cos. purchased the property in 2023 for $18.5 million, a fraction of its most recent price tag.
Organogensis signed a full-building lease on the 122,507-square-foot biomanufacturing facility in May 2025 with plans to invest about $100 million in site improvements. The life science company develops and manufactures advanced wound care and surgical market products.
Lightstone President Mitchell Hochberg said in a statement that the acquisition represents "the thoughtful expansion of our life sciences portfolio, driven by strong demand for high-quality biomanufacturing, R&D and technology-focused assets.
“This growth positions us to support innovation at scale in key markets," he continued. "The acquisition of 100 Technology Way is a compelling opportunity to add a highly specialized, Class A cGMP asset in one of the nation’s most established biotech hubs."
Lightstone manages 240 properties in more than 28 states throughout the U.S., with a $12 million-plus portfolio spanning residential, hospitality, retail and commercial markets.
With the Smithfield acquisition, Lightstone now owns eight assets spanning more than 1.2 million square feet in life sciences, medical office and technology-focused investments.
Prior to Organogenesis' tenancy, the property most recently housed the Ocean State facilities of Cambridge, Mass.-based Rubius Therapeutics, a biotechnology startup that shuttered in early 2023. Since its 1993 development, the property has also hosted Dowpharma, a business unit of The Dow Chemical Company, and Alexion Pharmaceuticals.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
I wonder why the company using the facility didn’t purchase it?!