Founded by David Clem in 1993 as an affiliate of Lyme Timber Company, Lyme Properties specialized in the acquisition, development and leasing of life science research space. The company concentrated its efforts in the well-known research cluster of Cambridge and Boston, Massachusetts. According to the investment banking company Morgan Stanley, Lyme Properties was the largest life science property developer in New England and the third-largest in the United States by 2006.
In a series of three transactions ending in 2007, Lyme sold its entire life science portfolio to BioMed Realty Trust at the peak of the market.
In 2008, Lyme Properties 2 LLC became an independent company, still under the management of David Clem, but focused on smaller, mixed-use development projects in the Upper Valley, including Hanover and Lebanon, NH and Norwich and Hartford, VT.
Mr. Clem continues to advise companies and educational institutions in the United States regarding the life science industry and its real estate needs.
Lyme Properties is nationally known for the development of life science research space that set new standards for architecture, landuse, adaptive re-use, and conservation. Lyme Properties has been the recipient of numerous national awards, including: