Real estate investment firm to deliver a customized facility for leading drug manufacturer and long-time partner
BOSTON, April 26, 2018 – Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, announced they will develop a new, 220,000-square-foot laboratory and office facility for Alkermes, a global biopharmaceutical company well known for its cutting edge research and drug development, on the Reservoir Woods Campus in Waltham. The new building, located at 900 Winter Street, represents an on-campus expansion of Alkermes’ current facility within Reservoir Woods at 852 Winter Street, enabling the company to expand both its research and development capabilities and comfortably accommodate its growing staff. Construction of the new facility will begin this Spring with Alkermes expected to occupy in early 2020.
Davis Marcus Partners has a nearly decade-long professional history with Alkermes, having first worked with the company as a landlord in renovating a portion of an existing office building into a laboratory and headquarters facility to accommodate their relocation from Cambridge to Waltham in 2009. Subsequently, they have assisted with four successive expansions as Alkermes has grown from 100,000 to 180,000 square feet. Davis Marcus Partners’ substantial experience as a life science property owner, manager and developer has enabled the two companies’ ongoing successful partnership leading to this current expansion.
“We’ve developed a strong partnership with Alkermes over the years as they’ve continued to grow as a global leader in the biopharma sphere,” said Pete Cameron, a Principal at Marcus Partners. “This new facility will be tailored from the inside out to meet their needs with robust infrastructure and capabilities. 900 Winter provides them a next generation facility in every sense in one of Greater Boston’s most prestigious corporate campuses.”
The new facility, designed by Elkus Manfredi Architects, offers an environmentally conscious LEED design and amenities including an eatery, coffee bar, state-of-the-art fitness center, outdoor amphitheater and a rooftop terrace all tailored to provide a collaborative and inspiring work environment for Alkermes’ employees to continue their work on an increasingly diversified portfolio of pharmaceutical products. As part of the build-to-suit arrangement, Alkermes will sign a 15-year lease at the new property.
“Davis Marcus Partners has been instrumental in accommodating our continued growth since 2009” said Jim Frates, Alkermes’ Chief Financial Officer. “They have been an ideal partner willing to dig in, understand our team’s needs and customize their buildings as our business and science continues to evolve.”
900 Winter Street will be part of the Reservoir Woods Development, a vibrant, approximately 1.3 million-square-foot campus in Waltham, MA, featuring a diverse mix of office, research and development, retail, health and wellness offerings. Reservoir Woods is also highly commuter friendly, offering shuttle service to the MBTA Red Line at Alewife Station in Cambridge, and is less than a mile away from I-95, Route 128 and Route 2 and less than five miles from the Mass Pike.
About Marcus Partners
Marcus Partners is a value-oriented real estate investment firm based in Boston, Massachusetts with additional offices in Metro New York and Washington D.C. The firm invests in real estate and related assets, pursuing a mix of strategic and opportunistic investment strategies.
About The Davis Companies
Founded in 1976, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multifamily, retail, hospitality, light industrial, healthcare and bioscience properties across the Eastern United States. For further information, please visit thedaviscompanies.com.
Media Contact: T.J. Winick 617.933.5283