Leading Life Science Realtor Buys 7+ Acres In Assembly Square

Somerville MA

19 January, 2021

1:57 PM

Description

SOMERVILLE, MA — A leading provider of real estate solutions to the life science and technology industries has plans to build a 1.3-million innovation space for research, technology and life science tenants in Assembly Square. BioMed Realty announced the acquisition of an existing 162,000-square-foot office building and adjacent 7.5-acre site Tuesday. The firm already has lab and office space in Cambridge and Boston's Longwood Medical and Seaport areas. Assembly Square provides convenient access to world-leading scientific research, established biotech companies and capital providers in the life science field, BioMed says. "Our vision for the Assembly Square location is to create a premier innovation campus where science and technology intersects," said Sal Zinno, vice president of BioMed Realty. "With close proximity to downtown Boston, the airport, a major interstate highway, public transit and adjacent amenities including restaurants, entertainment and new retail, it's an ideal location and size for a large life science company to establish a prominent headquarters." Designing the initial phases of the 1.3 million square feet project is well underway, and upon completion, will consist of R&D, innovation and retail space, in addition to a roof deck and open public recreation and amenity areas. Nearby Assembly Row will also offer tenants ample dining, shopping, fitness and entertainment options, the firm says. "As the life science industry continues to grow in Massachusetts, BioMed Realty's Assembly Square location is filling an important need for the increasing number of biopharma companies who are looking to locate to the Boston region," said Kendalle Burlin O'Connell, president and COO of MassBio. "Thriving mini-clusters in highly desirable and centrally located places like Somerville help ensure our members can thrive and bring new therapies and cures to patients faster."