Construction Starts at Boston-Area Science Campus
- May 25, 2017
King Street Properties, the largest owner and operator of life-science buildings in the Greater Boston area, announced the ground-breaking of a 144,910-square-foot laboratory and office asset located at 828 Winter St. in Waltham, Mass., and slated for completion in summer 2018. Transwestern Consulting Group Partners Eric Smith and Jon Varholak will lead the leasing efforts for the new building, while a team fronted by architecture firm Perkins + Will and contractor BW Kennedy & Co. will handle the design. A loan arranged by HFF is financing the construction.
Prior to the ground-breaking, King Street Properties acquired the adjacent 185,000-square-foot, Class A, fully occupied 830 Winter St. and a development site that will harbor a parking garage. Amenities include two cafeterias, a central courtyard with outside seating, conference rooms, plenty of parking space, bicycle storage and showers with changing facilities. 828 Winter St. will be a three-floor, state-of-the-art laboratory and office building with 48,000-square-foot floors and top-notch electrical and plumbing systems.
The complex sits close to main routes such as Interstate 95/Route 128, Massachusetts Turnpike, Yankee Division Highway, but also to hotels, restaurants and retailers. Multiple bus stations are located within walking distance, providing transportation throughout the area.
Upon completion, the two buildings will form the largest multi-tenant campus outside Cambridge, Mass. “We purchased this site in August 2015 because we see Waltham as a world-class, life-sciences destination, home to a wide range of innovators,” King Street Properties Senior Associate Tyson Reynoso said in a prepared statement. “Since 2006, employment in Greater Boston’s life sciences industry has grown by 32 percent, but new lab construction has not kept up with demand. This best-in-class suburban life sciences campus with urban amenities will meet that demand.” Notable upcoming science conglomerates in the area include Harvard University’s Science and Engineering Complex and Merck KGaA’s campus.
Image courtesy of King Street Properties