Repositioning 470 Atlantic Avenue: Transforming a Historic Asset into Modern Lab Space
September 2026
Built more than 100 years ago as an office and warehouse building, 470 Atlantic Avenue is being repositioned into one of Boston’s most technically complex lab conversions, driven by the evolving demands of the region’s life sciences market. On behalf of NF International Real Estate (Nan Fung), we are leading the conversion of approximately 190,000 square feet into a speculative BSL-2 laboratory environment, unlocking new value within a constrained, partially occupied asset.
Projects like this reflect a growing opportunity across urban markets. Owners are increasingly looking at existing buildings as candidates for life sciences conversion. While the upside is significant, these projects require early insight, flexibility, and strong leadership to move from concept to execution.
Starting with Complexity
From day one, this project presented unique challenges. The building is more than 100 years old, with limited floor heights, tight shaft space, and aging infrastructure that would ultimately require a full mechanical overhaul, including a new 600-ton chiller plant, a 2-megawatt standby generator, and new RODI and pH neutralization systems to support lab operations. The site itself adds another layer, with surrounding buildings, limited access, and the need to coordinate utility upgrades carefully.
Conditions below grade added further complexity. Portions of the basement sit below sea level, requiring careful planning to address water infiltration and support new building systems. At the same time, the roof needed to accommodate new infrastructure within a limited footprint.
The building also remained partially occupied throughout construction. That meant every phase of work had to be thoughtfully planned and communicated to minimize disruption while keeping the project moving forward.
Leading from Due Diligence Through Delivery
Our involvement began early, supporting due diligence and feasibility efforts to determine whether the building could successfully accommodate a lab program. This initial phase was critical. By evaluating infrastructure, structural constraints, and overall building capacity upfront, we helped ownership move forward with confidence.
From there, we stayed engaged through every phase of the project, from entitlement and design through construction. Our role was to provide continuity and alignment across all stakeholders, helping guide decisions as the project evolved.
As conditions changed, both within the project and in the broader market, we worked closely with ownership and the project team to keep priorities clear and maintain steady progress.
Solving Constraints Through Coordination
Transforming an existing building into a modern lab environment required a thoughtful and coordinated approach. The project includes reconfiguring multiple floors into a mix of lab and office space, supported by significant upgrades to building systems.
One of the biggest challenges was bringing new systems through the building. With limited shaft space, we worked with the team to rethink how to route infrastructure efficiently. This included making strategic changes within the building core and, at one point, reworking the approach entirely to better support the long-term plan.
Changes of that scale require strong coordination and clear communication. Staying closely involved at each step kept the team aligned through those adjustments and kept momentum from stalling.
At the same time, day-to-day construction required careful planning. Working within an active building and a tight urban site meant coordinating deliveries, managing access, and maintaining a safe environment for both construction teams and occupants.
Adapting to a Changing Market
Like many life sciences projects, 470 Atlantic Avenue evolved over time. Early plans focused on speed to market and maximizing lab space. As market conditions shifted, the program was adjusted to better align with current demand.
The final approach introduces more flexibility, including a mix of completed lab space, white-box areas, and configurations that can accommodate different tenant needs. This allows ownership to respond to the market while still delivering high-quality space.
Throughout these changes, maintaining continuity was key. Being involved from the beginning gave the team a fixed point of reference and the ability to adapt without losing progress or direction.
The Owner’s Project Manager Advantage
As Owner’s Project Manager, we served as the central point of alignment across ownership, design, and construction, translating complex, evolving decisions into a plan the full team could execute.
That role was tested directly when shaft space within the building’s core proved insufficient to route new mechanical systems. Rather than force a compromise, we worked with the design and construction teams to decommission an existing elevator, reclaiming the shaft space needed to keep the mechanical plan intact. When the program shifted again, we led the team through a full redesign of the shaft strategy, coordinating structural, mechanical, and fire protection changes without losing the time already invested.
That kind of hands-on problem-solving, repeated across five years and three distinct program iterations, kept the project moving, managed change, resolved conflicts as they surfaced, and kept every stakeholder focused on the same outcome.
Positioned for Long-Term Value
Today, 470 Atlantic Avenue stands as a strong example of what is possible when an existing building is thoughtfully repositioned. Despite the challenges, the project is delivering modern lab space within a historic structure, helping to meet the needs of Boston’s life sciences market.
The building is now positioned to attract a range of tenants, offering flexible, ready-to-occupy space that supports leasing and long-term value.
Key Takeaways: Delivering Complex Office-to-Lab Conversions
Our experience at 470 Atlantic Avenue reinforces several important considerations for owners:
- Early due diligence is critical. Understanding what a building can support upfront helps reduce risk later.
- Flexibility matters. Market conditions change, and projects need to be able to adapt.
- Infrastructure drives feasibility. How systems move through a building often defines what’s achievable.
- Continuity makes a difference. Consistent leadership, in this case, spanning five years from initial due diligence through delivery, helps preserve institutional knowledge and maintain momentum through change.
- Coordination is everything. Occupied buildings and urban sites require careful planning and communication.
These principles are key to successfully repositioning existing assets in today’s market.
Client Perspective
As our client put it: “More than simply managing the work, they became an extension of our team, always proactive, responsive, and committed to finding solutions.” – Mehmet E. Kirtan, Ph.D., SVP of Construction, NF International Real Estate
Projects like 470 Atlantic Avenue show that successful office-to-lab conversions depend on the right strategy, adaptability, and strong leadership throughout the process. That is where we bring the most value to our clients.
About the Authors
Lee Burneson, Matt Cichon, and Robert Pitaro wrote this article. Lee is a seasoned industry professional with over 40 years of experience as a senior development manager on complex real estate projects and advisory assignments. His portfolio includes projects in the institutional, residential, commercial, and mission-critical sectors, with an aggregate volume exceeding $1B. Matt has over 20 years of experience working in the real estate and construction industry, managing a variety of projects for life science clients, including laboratory retrofits, cGMP build-outs, and ground-up core-and-shell buildings. Robert has over 12 years of project management experience in commercial building design and construction. His expertise spans complex projects in the life sciences, pharmaceuticals, healthcare, and commercial sectors.
