BOSTON – BioMed Realty has acquired an current 162,000-square-foot workplace constructing and an adjoining 7.5 acre web site in Somerville, MA.
The properties are situated on the Meeting Sq. campus, which might be developed in phases and can embody 1.3 million sq. toes of best-in-class, purpose-built house for analysis, expertise and life science tenants.
Providing entry to main scientific analysis, biotech firms and capital suppliers, Meeting Sq. is located in shut proximity to the Massachusetts Institute of Expertise, Harvard and different prime tier analysis and training establishments.
The design of Meeting Sq.’s preliminary phases are at the moment underway. The preliminary phases will encompass R&D, innovation and retail house, in addition to amenity areas, open public recreation and a roof deck. The campus’s retail space, Meeting Row, will characteristic eating, purchasing, health and leisure choices.
“We’re excited to welcome BioMed Realty as a brand new innovator within the Meeting Sq. tech ecosystem,” states Somerville Mayor Joe Curtatone. “Having a world-leading life science developer launch this new main life science cluster in Somerville will open up the expansion, jobs and new alternatives our group seeks. Merely put, it opens the door for our metropolis to turn into a pioneer within the biotechnology house. Meeting Sq. will turn into a spot the place life science professionals collaborate, experiment, uncover and advance the nation’s – and world’s – efforts to deal with important well being challenges.”
“Our imaginative and prescient for the Meeting Sq. location is to create a premier innovation campus the place science and expertise intersects,” says Sal Zinno, VP of BioMed Realty. “With shut proximity to downtown Boston, the airport, a significant interstate freeway, public transit and adjoining facilities together with eating places, leisure and new retail, it’s a really perfect location and dimension for a big life science firm to determine a distinguished headquarters.”
With the current Meeting Sq. acquisition, BioMed Realty now serves because the proprietor and operator of one of many largest life science actual property portfolios within the space. Along with its Meeting Sq. properties, the agency’s present portfolio of lab and workplace house contains properties in close by Cambridge and Boston’s Longwood Medical Space and Seaport District.
“Because the life science business continues to develop in Massachusetts, BioMed Realty’s Meeting Sq. location is filling an vital want for the growing variety of biopharma firms who need to find to the Boston area,” says Kendalle Burlin O’Connell, president and COO of MassBio. “Thriving mini-clusters in extremely fascinating and centrally situated locations like Somerville assist guarantee our members can thrive and convey new therapies and cures to sufferers quicker.”