Capitalizing on tenant demand and dramatic rent growth in Greater Boston for lab/life-science facilities, we are targeting submarkets with demonstrated success in attracting life-sciences tenants and investments that provide an opportunity to deliver space on an accelerated basis as the pipeline of development projects continues to grow.
The Watertown submarket in Greater Boston has emerged as a core node for new life-science development, with more than one million square feet under development, led by some of the industry’s most highly respected and active developers.
Execution
Our team’s experience in this asset class positioned us as a preferred development partner in a joint venture with Boston Development Group (BDG). BDG has long owned an attractive five-acre development site adjacent to Watertown Square, a hub for multiple transit bus lines, and a half-mile from I-90, offering convenient access to Boston and Cambridge. This joint venture is currently developing 66 Galen Street, a 224,000-square-foot Class A laboratory facility, as the first of a two-phase, life-sciences development that will total approximately 450,000 square feet when fully built out.
The building will be LEED-Gold certified and provide tenants with various amenities, including over an acre of landscaped green space, a fitness center, an extensive bike room, and an on-site café.
We believe 66 Galen will offer Class A product in a prime submarket that should prove highly attractive to Greater Boston’s expanding life-science user base.
