Lenders Call the Shots at Recent Lab Developments
Following an ill-timed development boom, nearly half of the recent lab projects in Greater Boston are now controlled by lenders, according to industry research.
BPDA Approves Bunker Hill Mall Housing, Skanska’s Longwood Development
A 240-unit apartment building will replace a 99 Restaurant in Charlestown under an $85 million development by the property’s longtime owner.
IQHQ Sells Former Sound Museum Property to NB Development
Lab developer IQHQ sold another approved development site in Boston, a 3-acre parcel that’s approved for a 409,395 square-foot lab complex, to New Balance’s real estate arm.
Avidia Bank Could Lose $17M on Medford Lab Project
A failed Medford lab development provides a stark example of how Massachusetts’ rapidly retreating life sciences market left some developers and lenders high and dry.
Alexandria Says Ex-Employee Stole Trade Secrets
A former Massachusetts employee stole company secrets and strategies on lab properties, major life science developer Alexandria Real Estate Equities claims in a lawsuit.
BPDA Approves Newmarket Labs, Harvard Benefits
Boston planning officials approved a new hybrid building prototype in Boston’s Newmarket district and $200,000 that Harvard University will donate to local organizations as community benefits associated with its institutional projects in Allston.
Housing Replaces Labs to Begin South Boston Development
Developers plan to build the 636-unit housing portion first at the 1.7-million-square-foot 776 Summer St. project in South Boston, reflecting lack of current demand for 860,000 square feet of approved office and lab space.
Will VC Rebound Stimulate Lab Leasing?
Venture capital investment in the U.S. life science industry surged in the second quarter, potentially easing the historic glut of lab space seeking tenants.
Union Square Developer Pauses 1.6M SF Green R&D Project
At neighborhood meetings last fall, residents objected to Rafi Properties’ proposed building heights of up to 245 feet, plans for 1,252 parking spaces and loss of arts and cultural space.
Developer Proposes Lab Project Near Wellington Circle
A contaminated industrial site near Wellington Circle would be redeveloped as a lab complex under a proposal by an Acton developer.
Alexandria Joins Dot Ave. Development Scene
After a series of high-profile dispositions in the Boston area, the nation’s largest life science developer got back in acquisition mode with a $43 million purchase on South Boston’s Dorchester Avenue.
Massport Restructures Lincoln Property Co.’s Seaport Lab Deal
Financial terms of a planned office-lab project in the Boston Seaport District were amended by Massport officials amid an increasingly difficult development landscape.
Greystar Tees Up 1.6M SF Somerville Hotel, Lab Project
Greystar’s second Somerville project would include nearly 1.6 million square feet of hotel, office and lab space steps from its nearly-completed 74M tower.
Supply Glut Prompts a Look Beyond Labs
Greater Boston’s 16 million-square-foot lab construction pipeline used to represent an exclamation point for the region’s life science industry. Today, it’s one of the biggest question marks in the local commercial real estate market.
The Boston Lab Market’s Dead? Hardly
Yes, unbuilt suburban lab projects are unraveling and rents are sinking, but the life science industry is built on real demand and requires in-person work. Life science real estate isn’t going anywhere in Boston.
Bulfinch Scraps Natick Labs for Pickleball Club
As developers rethink plans for additional life science projects, Bulfinch Cos. will swap out a planned lab conversion on hold at the Natick Mall in favor of a pickleball complex.
Lab Market Takes Another Step Back in Q3
Double-digit availability rates are the new norm for lab space in Greater Boston, with only the industry hub of East Cambridge avoiding the full force of the market downturn.
New Moderna HQ Nears Completion Under Budget
Moderna’ new global headquarters in Cambridge’s Kendall Square is set for delivery in November under budget, developer Alexandria Real Estate Equities announced.
Seyon Group Proposes 5-Acre Lab Project in Watertown
A vacant industrial property in Watertown would be converted into lab and manufacturing space under plans submitted to Watertown officials by Boston-based Seyon Group this month.
BPDA Approves New Lab Projects and Office Conversion
The largest community benefits agreement to support arts and culture in Boston history is the price that a lab developer will pay to replace Brighton’s Sound Museum with a life science campus.
