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Life Science REIT Buys Andover Campus for $36M
A newly-formed REIT that recently raised $770 million for acquisitions in Greater Boston and other life science hubs has made another local acquisition.
A newly-formed REIT that recently raised $770 million for acquisitions in Greater Boston and other life science hubs has made another local acquisition.
East Cambridge maintained its position as the region’s top destination for lab tenants, with asking rents topping $101 per square foot triple-net in the fourth quarter.
A California real estate investor has completed its $332.5 million acquisition of Alewife Research Center, a speculative development that attracted five life science companies to West Cambridge’s growing lab cluster.
With recent major deals and more on the way, West Cambridge’s Alewife neighborhood has emerged as a 1.1 million-square-foot life science cluster that any other city in the nation would love to claim as its own.
A speculative development that has tapped into West Cambridge’s expanding life science cluster is under agreement to a California investor for $332.5 million.
A speculative lab project at 35 Cambridgepark Drive has leased 52,859 square feet to a Cambridge-based life science firm.
Maybe there’s a better term than “speculative” to describe commercial development in Cambridge, where tech and life science tenants are eager to commit to office and lab space before shovels are in the ground.
The Davis Companies has leased 26,989 square feet of space in their Alewife Research Center in Cambridge to Ribon Therapeutics Inc., a biotech company that will relocate from Lexington.
The Davis Cos. has topped off its speculative 223,000-square-foot Alewife Research Center (ARC) lab building in Alewife scheduled for completion in fall 2018.
Cambridge, one of the top three life sciences markets nationally, is considered the epicenter due to numerous factors. The most significant is proximity and access to area universities and research institutions, such as MIT, Harvard, the Broad Institute and the Whitehead Institute.