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Image courtesy of Google Maps
Life science developer IQHQ is adding Brighton to its steadily growing list of Greater Boston development sites, acquiring a parcel on the outskirts of Boston Landing for $50 million.
The 3.1-acre property, formerly owned by The Hamilton Co., contains a 139,470-square-foot building including a furniture outlet.
The well-capitalized California life science REIT is working on two major developments in the Fenway, including proposed redevelopment of 109 Brookline Ave. and a partnership with Meredith Management on the Fenway Center air rights lab project.
In Cambridge, IQHQ has assembled 27 acres of real estate in the Alewife section with acquisitions of the GCP Applied Technologies campus and the Alewife Center office building. It’s also been active in the suburbs, buying an Andover office property in March 2020.
The firm, founded by a former BioMed CEO, has raised approximately $2.5 billion in equity since early 2020.
A separate development group acquired a parcel at Boston Landing in March that’s approved for a 320,000-square-foot life science building. Lendlease and Ivanhoé Cambridge are planning a $500 million project designed by SGA on the 1.15-acre site next to the Massachusetts Turnpike, with plans to break ground in spring 2022.
