What: 100 Chestnut
Where: 100 Chestnut St., Somerville
Owner: North River Co. and Leerink Development
The first new life sciences building in Somerville’s Brickbottom neighborhood is poised to get underway after receiving received $192.5 million in financing from Square Mile Capital on June 3. The Gensler-designed, 208,616-square-foot property with 60,000-square-foot floorplates is targeted for LEED Platinum certification.
The building is being billed as the first in what will eventually be a “campus” in the industrial and arts neighborhood being developed by North River Co. and Leerink Development in and around the soon-to-open East Somerville station on the MBTA’s Green Line Extension.
Somerville officials recently completed a planning study for the Brickbottom area that calls for a mix of residential and commercial uses in the area, along with new street connections, parks and artist space. A rezoning process to reflect the study is expected to get underway this year.
They Said It:
“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. It will be exciting to watch this best-in-class development team execute its master plan and Colliers is grateful to have played our part.”
— Jeff Black, executive vice president, Colliers International