Image courtesy of Perkins + Will

Developers have broken ground on a 227,000-square-foot speculative lab project in Waltham after receiving $277 million in financing from Dallas-based RBC Real Estate Capital Corp.

Anchor Line Partners and Northwood Investors are partnering on the 245 Fifth Ave. project, designed by Perkins + Will and built by J. Calnan & Assoc.

The 6-story office-lab building will have 42,000-square-foot floor plates and 15-foot ceiling heights to accommodate life science uses and infrastructure. Tenant amenities include a library and meditation rooms, game room and golf simulator, golf simulator and co-working space.

“We believe in this market and its major selling points including access to incredible local talent and proximity to Boston and Cambridge and we are confident we can provide life science tenants workspaces that are unique and inspiring,” Andrew Maher, managing director of Boston-based Anchor Line, said in a statement.

Cushman & Wakefield is leasing agent for the property.

Waltham continues to attract life science development and conversions of office buildings into lab-ready space. In October, Lincoln Property Co. and MetLife Investment Management topped off the 140,000-square-foot 300 Third Ave. lab building in a high-profile site overlooking Route 128.

Waltham attracted the third-largest life science lease of the third quarter in Greater Boston when Generation Bio committed to 104,000 square feet at 41 Seyon St., where Hilco Redevelopment Partners and TPG Real Estate are repositioning a 30-acre campus for life science uses.

Developer Gets $277M in Financing for Waltham Lab Project

by Steve Adams time to read: 1 min
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