REBusinessOnline

Anchor Line, Northwood Top Out 215,000 SF Life Sciences Building Near Boston

CAMBRIDGE, MASS. — A partnership between Boston-based developer Anchor Line Partners and international asset management firm Northwood Investors has topped out 60 First Street, a 215,000-square-foot life sciences project located across the Charles River from Boston in Cambridge. The five-story property, which is a redevelopment of the former Sears building, includes ground-floor retail space and has been fully preleased. Biotech startup Prime Medicine has committed to 148,000 square feet …

JLL Arranges 75,000 SF Office Lease in Miami for Medical Research Firm

MIAMI — JLL has arranged a 75,000-square-foot office lease at Quattro Miami, a four-building office park in the city’s Airport West submarket. The tenant, medical research firm Evolution Research Group (ERG), is relocating its South Florida regional headquarters to Quattro Miami from Hialeah. The move expands ERG’s office footprint by 45,000 square feet, according to JLL. The New Jersey-based firm leased four full floors at Quattro East, located at 700 NW 107th Ave. Doug Okun of JLL …

Luminous Capital Acquires R&D Building for Life Sciences Conversion in Carlsbad

CARLSBAD, CALIF. — Luminous Capital Management, in partnership with Austin, Texas-based Virtus Real Estate Capital, has acquired 5931 Priestly Drive, an industrial/research and development (R&D) building in Carlsbad. Locally based investment firm Greene Properties sold the asset for $14 million, or $265 per square foot.Situated within Carlsbad Research Center, the 52,800-square-foot property was fully leased to two tenants under short-term leases that expire in 2023 at the time of …

Wentworth Institute of Technology to Open 640,000 SF Life Sciences Facility in Boston

BOSTON — The Wentworth Institute of Technology, a private university founded in Boston in 1904, will open a 640,000-square-foot life sciences facility at 500 Huntington Ave. in the city’s Longwood Medical District. Wentworth has selected a joint venture between The Fallon Co., Owens Cos. and Waldwin Development Co. to develop the property. The project is expected to create about 1,900 construction jobs and 1,500 full-time jobs upon completion. A construction timeline for the development, …

CBRE Arranges $75M Loan for Shoreway Innovation Center in Belmont, California

BELMONT, CALIF. — CBRE has arranged a $75 million loan for the acquisition and redevelopment of Shoreway Innovation Center in Belmont. The property will be redeveloped into a new life sciences campus. The borrower is Four Corners Properties.Mike Walker and Brad Zampa with CBRE Capital Markets’ Debt & Structured Finance group arranged and secured the three-year, floating-rate financing through a private equity firm. The nonrecourse loan carried two extension options.Four Corners …

Tishman Speyer, Bellco Capital to Develop 200,000 SF Life Sciences Campus in Philadelphia

PHILADELPHIA — A joint venture between Tishman Speyer and Bellco Capital has purchased a development site at the 2300 Market Street city block in Philadelphia’s Center City district. The joint venture, which goes by the name Breakthrough Properties, plans to redevelop the site into 200,000 square feet of life sciences space.The site is located adjacent to the University of Pennsylvania and Drexel University and within walking distance to several academic medical centers. The property …

Integra Signs 100,000 SF Life Sciences Lease in Braintree, Massachusetts

BRAINTREE, MASS. — Global medical technology company Integra has signed a 100,000-square-foot life sciences lease at 400 Wood Road in Braintree, a southern suburb of Boston. Hilco Redevelopment Partners purchased the 156,000-square-foot property in 2019 and converted it into a life sciences facility. Integra plans to take occupancy of the new space, which it will use to manufacture surgical reconstruction devices, in 2025. The move is expected to bring about 150 new jobs to the local economy. …

Trammell Crow to Develop 757,000 SF Life Sciences Campus at Johns Hopkins Satellite Campus in Maryland

ROCKVILLE, MD. — Trammell Crow Co. has plans to develop The Lab at Belward, a life sciences project situated on the Belward Campus of Johns Hopkins University in Rockville. The property will initially span 757,000 square feet of laboratory and research and development space across three buildings. Trammell Crow entered into a 99-year ground lease with Johns Hopkins University for the 21-acre project. Designed by Gensler to achieve LEED Gold standards, The Lab at Belward will include 18-foot …

Matica Biotechnology Opens 45,000 SF Life Sciences Facility in College Station

COLLEGE STATION, TEXAS — Cell and gene therapy firm Matica Biotechnology has opened a 45,000-square-foot life sciences facility at Providence Park, a 52-acre research and development campus in College Station. Providence Park houses the former 180,000-square-foot facility of Pittsburgh-based manufacturer Westinghouse. Oldham Goodwin manages the

DLJ Real Estate, Leggat McCall Complete 289,000 SF Life Sciences Project in Metro Boston

SOMERVILLE, MASS. — A development team of DLJ Real Estate Capital Partners and Leggat McCall Properties has completed 101 South Street, a 289,000-square-foot life sciences project in Somerville, located on the northern outskirts of Boston. The building is the first of four master-planned life sciences facilities within the 1.8 million-square-foot Boynton Yards development. Architecture firms Spagnolo Gisness & Associates and Hashim Sarkis Studios designed the project, and Shawmut Design …




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