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Skanska Invests $70M In Cambridge Building

Sep 27, 2011 | Reprints | Unlock Link | Print

Skanska is investing $70 million in a laboratory and office building located at 150 Second St. in Cambridge.

The project is Skanska’s first commercial real estate investment in Cambridge, home to the world’s leading biotechnology and technology innovation center, Kendall Square. The building is scheduled for completion in November 2012. Construction will commence in October 2011 and will be implemented by Skanska USA Building, according to a statement.

Skanska USA Commercial Development acquired the parcel in November 2010. The three-story Class A building, designed by Elkus Manfredi Architects, will be designed and developed to LEED Gold minimum standards. The project will include approximately 11,150 square meters of highly sustainable lab space. Skanska will self-finance 100 percent of the development costs.

Commercial & Industrial