BioMed Plans More Lab Space in Cambridge
Cambridge still has the region’s lowest lab vacancies despite the life science industry slump, prompting a leading developer to pursue a project adding nearly 113,000 square feet to the local inventory.
Biogen Relocating to MIT Development in Cambridge
Biogen Inc. will relocate its headquarters to MIT’s new Kendall Square development after leasing 580,000 square feet in the first new lab building at Kendall Common.
Archrival Buys Alexandria Labs in Kendall Square for $250M
Alexandria Real Estate Equities sold three Kendall Square life science buildings to its archrival BioMed Realty for $250 million in a transaction between the nation’s two largest lab landlords.
Climate Tech Creates Buzz for Conversion Potential
Developers originally focused on life science tenants to fill office conversion projects are casting a wider net hoping to capture fast-growing climate tech industry startups. But this plan B has its own problems.
Seven State Agencies Will Relocate to Downtown Boston Offices
In the latest reconfiguration of the state government’s office footprint in Boston, seven agencies will relocate to a Financial District property in 2025.
BioMed Buys Kendall Square Accelerator HQ for $361M
The home of a “tough tech” accelerator and venture fund in Cambridge’s Kendall Square was acquired by life science developer BioMed Realty.
Personnel File – No. 382
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Cambridge’s Next Biotech Beacon Gains Altitude
Led locally by Bill Kane, Blackstone-owned BioMed Realty is building one of Cambridge’s most notable new projects, the 585 Kendall tower leased to Takeda Pharmaceuticals.
Boston-Area Lab Leasing Hits Post-Pandemic Low
Lab leasing in Greater Boston declined to the lowest level since the pandemic as life science companies shied away from real estate commitments in a frugal funding climate.
State Agencies’ Expiring Leases Could Shake Up Downtown
State agencies’ pending lease expirations in downtown Boston would add over 800,000 square feet of vacancies to the beleaguered office market, prompting pleas for Gov. Maura Healey to reverse a planned real estate diet.
Assembly Row Developer Delays Big Lab Project
Federal Realty Investment Trust is delaying groundbreaking of a 381,529-square-foot life science project at Somerville’s Assembly Row, citing “oversaturation” in the lab development market.
Developer Seeks Two-Year Delay for Somerville Lab Tower
The developer of a 19-story lab tower in Somerville’s Assembly Square is seeking an extension to redesign the project following a change of ownership and continuing sluggishness in life science leasing.
Personnel File – No. 356
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Somerville Lab Construction Continues Amid Industry Uncertainty
BioMed Realty is targeting a mid-2023 completion for the first phase of its 495,000-square-foot Assembly Innovation Park campus. The San Diego developer and construction manager John Moriarty & Assoc. held a topping-off ceremony Thursday for the project.
BioMed Seeks 237K SF Lab Conversion
The next phase of BioMed Realty’s first lab development in Boston’s South End would add 237,000 square feet of life science space through an office conversion.
Performing Arts Take Center Stage in Lab Groundbreaking
Jazz and Haitian dance performances punctuated the start of a Kendall Square life science development that will help offset the decline of local arts venues.
WATCH: Will Boston’s Lab Boom End?
Does the current softness in the life science market this actually represent a problem for developers and building owners? Banker & Tradesman spoke with a panel of experts on Aug. 29 to find out.
Allston, Somerville Lab Projects Get $1.1B in Financing
A pair of new life science campuses in Allston and Somerville being developed on speculation received nearly $1.1 billion in construction financing.
BioMed’s 600K SF Kendall Square Development Leased to Takeda
Massachusetts’ largest life science employer will occupy BioMed Realty’s new 600,000-square-foot lab tower at 585 Third St. in Kendall Square upon completion in 2026.
Hot Property: 585 Kendall
BioMed Realty has received special permit approval from the Cambridge Planning Board for 585 Kendall, a 500,000-square-foot office-lab building including community and performing arts space.
