CAMBRIDGE, MASS. — Skanska USA Commercial Development, a Boston-based affiliate of global construction group Skanska, has acquired the development rights to a laboratory/R&D project in the heart of Cambridge. The fully permitted project will be located within the city's Kendall Square biotech corridor.
The three-story building, known as 150 Second, will contain 120,000 square feet of office and laboratory space along with 94 underground parking spaces. Project architect Elkus Manfredi Architects has designed the building to achieve LEED-Gold certification, with sustainable features that include the use of sustainable construction materials and the inclusion of abundant daylighting.
Skanska acquired the project from Bent Street Land Company LLC, a private investment partnership sponsored by Spaulding & Slye Investments. The project has already received approval from the Cambridge Planning Board. Skanska USA Building will serve as construction manager. Jones Lang LaSalle has been brought on to lease and manage the building.
“This is an extraordinary site due to its great amenity base, proximity to transit and biotech tenant demand,” said Mike Pascavage, executive vice president and regional manager for Skanska USA Commercial Development. “We have been actively pursuing projects that align with our core values of operational efficiency and environmental sustainability, and this project epitomizes those values.”
Skanska launched the division in 2008 for the purposes of developing sustainable Class A commercial projects. The company self-finances its development projects and has a commitment to achieve LEED-Gold certification or higher on its projects. It is currently developing a 180,000-square-foot mixed-use building in Washington, D.C. In addition, it will soon break ground for an office building in Arlington, Va., and it recently acquired a site in Houston's Galleria submarket for the construction of a 300,000-square-foot office building.
— Coleman Wood