Image courtesy of HFF/JLL

A high-visibility Downtown Crossing office building could become one of Boston’s next lab conversions following a $107 million acquisition.

San Diego life science developer Phase 3 Real Estate Partners bought 55-63 Summer and 2-20 Chauncy St. this week, its latest in a series of acquisitions in Greater Boston.

The latest deal on Friday includes a 10-story office building across from Macy’s flagship department store. The property was built in 1977 and totals nearly 129,000 square feet of office and retail space including ground-floor anchor tenant CVS.

New York-based Square Mile Capital Management provided $136.2 million in mortgage financing.

Phase 3 has been active in the Greater Boston commercial real estate market since 2021, one of three markets that it’s been focusing on along with San Francisco and San Diego.

The firm bought 5 Channel Center in South Boston and 85 Walnut St. in Watertown in January 2021 for $81.2 million, and the 12 Farnsworth St. office building and a small parking lot in the Seaport District for $49.6 million in November 2021.

Phase 3 did not immediately return messages. The company also has a 120,000-square-foot speculative life science conversion at 21 Hickory Drive in Waltham, which is scheduled for delivery in the third quarter, according to its website.

The Summer Street building is part of a Downtown Crossing portfolio which was updated and rebranded as “The Hive” under former owner Synergy Investments to attract tech companies including online security company Threat Stack.

Residents and elected officials have raised objections to lab conversions in some Boston neighborhoods, citing concerns about height, noise and safety. The Boston Planning & Development Agency is updating its design guidelines for lab projects as they spread into new sections of the city traditionally occupied by office and residential buildings.