Sunday, July 20, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Life Sciences

DevelopmentLife SciencesLoansMassachusettsNortheastTop Stories

Colliers Arranges $192.5M Construction Financing for 208,616 SF Life Sciences Project Near Boston

by Jeff Shaw

SOMERVILLE, MASS. — Colliers Capital Markets has arranged $192.5 million in construction financing for the development of 100 Chestnut Street. The life sciences project totals 208,616 rentable square feet in the Brickbottom District of Somerville, a first-ring suburb of Boston. The plans also call for nearly 8,500 square feet of ground-floor retail space and two levels of below-grade parking. The borrower, North River Leerink (NRL), is developing the property as part of a larger mixed-use “campus for discovery and innovation,” which will include labs, creative offices and retail space on 4.5 acres of contiguous land. Scheduled for completion in summer 2023, the four-story, Gensler-designed facility will be built to LEED Platinum standards. Square Mile Capital Management provided the construction funds. Jeff Black, Kevin Phelan, Sean Burke and Bryan Koop led the Colliers Capital Markets team representing the borrower. “This financing marks a major milestone for the transformation of Somerville’s Brickbottom District into a world-class hub for innovation and wellness,” says Black. “Metro Boston remains the most active and liquid life sciences market in the world, and 100 Chestnut Street is well-positioned to catalyze the region’s next great ecosystem.” The site runs parallel to 150 & 200 Inner Belt Road, a …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLife SciencesMassachusettsNortheast

Diversified Healthcare Trust Sells Stake in Boston Life Sciences Complex for $108M

by Taylor Williams

BOSTON — Diversified Healthcare Trust (NASDAQ: DHC) has sold a 10 percent equity interest in a two-building life sciences complex located at 11 Fan Pier and 50 Northern Ave. in Boston’s Seaport District for $108 million. The property comprises two 15-story buildings with a combined 1.1 million square feet of lab, office and retail space. The locally based REIT, which still owns another 10 percent stake, sold its interest to an existing joint venture partner that now owns 45 percent of the property. Diversified Healthcare Trust intends to use the proceeds from the sale to fund capital expenditures, reduce outstanding indebtedness and address other general business needs. At the time of sale, the property was 95 percent leased to Vertex Pharmaceuticals.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesMassachusettsNortheast

Bayer Opens $140M Research, Innovation Center in Boston’s Kendall Square

by Taylor Williams

BOSTON — German pharmaceutical giant Bayer has opened a $140 million research and innovation center within Kendall Square, located on the Boston-Cambridge border. About 100 employees will work at the two-story, 61,200-square-foot facility, which houses a molecular oncology research center with labs and offices. In addition, the center employs a newly established research team focused on leveraging chemical biology techniques to further propel the company’s oncology drug development process.

Continue Reading
FacebookTwitterLinkedinEmail
74-Middlesex-Avenue-Somerville-Massachusetts
DevelopmentLife SciencesMassachusettsNortheast

Greystar Underway on 465,000 SF Life Sciences Project in Somerville, Massachusetts

by Taylor Williams

SOMERVILLE, MASS. — South Carolina-based developer Greystar is underway on vertical construction of 74 Middlesex Avenue, a 465,000-square-foot life sciences project in Somerville, a northern suburb of Boston. The site is located within the Assembly Square mixed-use district. Designed by Elkus Manfredi Architects, the transit-oriented, 15-story building will feature ground-floor retail space, a health and wellness center, conference rooms and a 2,000-square-foot rooftop deck. Completion is scheduled for spring 2024. The project marks Greystar’s initial foray into the life sciences sector.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesMichiganMidwest

Sartorius Breaks Ground on 130,000 SF Research Center in Ann Arbor, Michigan

by Kristin Harlow

ANN ARBOR, MICH. — Sartorius, a life sciences research and biopharmaceutical company, has broken ground on its new 130,000-square-foot research center at Ann Arbor Research Park. Sartorius currently employs about 140 people in the Ann Arbor area and expects to increase that number to about 300 employees over the next three years. The jobs will include product development, operations and other support functions. Employees at the facility will focus on providing advanced solutions to help customers develop drugs that cure, prevent and halt the progression of diseases. Sartorius expects to open the facility by the end of 2023. Hobbs+ Black Architects is the project architect and J.S. Vig Construction Co. is the general contractor.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityLife SciencesNortheastPennsylvania

BioLabs Signs 30,151 SF Life Sciences Lease Expansion at The Curtis in Philadelphia

by Taylor Williams

PHILADELPHIA — BioLabs, an incubator for life sciences companies, has signed a 30,151-square-foot lease expansion at The Curtis, a facility in Philadelphia’s Center City District that is a redevelopment of a historic publishing house. The tenant’s footprint is now 53,529 square feet, and the move-in is scheduled for early 2023. Other tenants at The Curtis, which also houses traditional office space, include Aro Biotherapeutics, IMVAX Inc. and Vivodyne. Keystone Development + Investment owns the property.

Continue Reading
FacebookTwitterLinkedinEmail
585-Third-St.-Cambridge
DevelopmentLeasing ActivityLife SciencesMassachusettsNortheast

Takeda Signs 600,000 SF Life Sciences Lease in Cambridge’s Kendall Square Area

by Taylor Williams

CAMBRIDGE, MASS. — Japanese pharmaceutical giant Takeda has signed a 600,000-square-foot life sciences lease in Cambridge’s Kendall Square neighborhood. Takeda will occupy the entirety of the 16-story building at 585 Third St., which is being developed by San Diego-based REIT BioMed Realty and is slated for a 2026 completion. CBT Architects designed the facility, which will include 15,000 square feet of flexible space and a 300-seat theater, both of which will be open to the public. CBRE represented BioMed Realty in the lease negotiations. Cushman & Wakefield represented Takeda.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLife SciencesMichiganMidwest

MI-HQ Acquires Former Eastern Michigan University College of Business Building

by Kristin Harlow

YPSILANTI, MICH. — Michigan Innovation Headquarters (MI-HQ), a provider of life sciences and technology workspaces, has entered into a purchase agreement for Eastern Michigan University’s former College of Business headquarters building in downtown Ypsilanti for $2.6 million. The buyer plans to undertake $10 million in renovations to build shared workspaces for science, technology, engineering and mathematics (STEM) companies. Plans call for free onsite parking, research and development wet labs, medical offices, a 160-seat auditorium, exterior courtyard, café, gym and food truck area. Formerly known as the Gary Owens Building, the asset spans 130,000 square feet and is located at 300 W. Michigan Ave. The renovated building is slated to open in the first quarter of 2023 and will serve as MI-HQ’s fourth location.

Continue Reading
FacebookTwitterLinkedinEmail
Cabot-Cabot-Forbes-Woburn
DevelopmentLife SciencesMassachusettsNortheast

Cabot, Cabot & Forbes to Develop 300,000 SF Life Sciences Campus in Woburn, Massachusetts

by Taylor Williams

WOBURN, MASS. — Locally based firm Cabot, Cabot & Forbes has filed plans with the Planning Board of the City of Woburn, a northern suburb of Boston, to develop a 300,000-square-foot life sciences campus. Plans call for a 175,000-square-foot lab and office building and a 135,000-square-foot manufacturing facility. Cushman & Wakefield has been tapped to lease the project. The developer expects to receive the necessary permits and approvals by the end of the summer.

Continue Reading
FacebookTwitterLinkedinEmail
225-Wyman-Waltham
DevelopmentLife SciencesMassachusettsNortheast

Hobbs Brook Delivers 507,000 SF Office, Life Sciences Project in Metro Boston

by Taylor Williams

WALTHAM, MASS. — Hobbs Brook Real Estate has delivered 225 Wyman, a 507,000-square-foot office and life sciences project located in the western Boston suburb of Waltham. The five-story building sits on a six-acre site and features 43,500 square feet of indoor amenity space, as well as outdoor event space. In addition, 225 Wyman offers an onsite parking garage with a covered walkway connector. The property was 96 percent leased at the time of its opening to tenants such as Seqirus, ElevateBio BaseCamp and Pegasystems.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts