Image courtesy of Cummings Properties

Cummings Properties intends to go spec on a new life science building in Medford after updating the proposal in response to local feedback.

The Woburn developer announced plans in April for a 60,000-square-foot lab complex as part of an addition to a parking deck at its 190,000-square-foot 200 Boston Ave. property. The property is already 100-percent occupied and is located less than a mile from the Medford/Tufts station on the MBTA Green Line Extension, which is scheduled to begin operations in spring 2022.

Cummings Properties recently notified Medford officials it has redesigned the project in response to comments from residents and officials, shrinking the square-footage from 67,000 to 39,000 square feet and reducing the height from five to four stories. The project will be built on speculation, rather than a build-to-suit as previously planned, according to a letter from Brian Murrihy, executive project leader for Cummings Properties.

The plans include 2,000 square feet of ground floor restaurant space.

The project requires zoning relief and will be reviewed by the Planning Board on Sept. 15, followed by a Zoning Board of Appeals hearing on Sept. 23.

Lab space in the 1.5 million-square-foot inner suburban submarket currently has a 3.8 percent vacancy rate, according to Colliers International research.

Cummings to Go Spec on Medford Lab Project

by Steve Adams time to read: 1 min