JV Begins Construction on $170M Life Science Project
- Nov 03, 2020
King Street Properties has started construction on 101 Cambridgepark, a Class A laboratory property in Cambridge, Mass. The company has partnered with Healthpeak Properties to deliver the $170 million project, which is scheduled for completion in the third quarter of 2022.
Newmark’s Vice Chairman Mark Winters, Executive Managing Directors David Townsend and Juliette Reiter, and Director Catie Tilton are representing King Street in the leasing process. DiMella Shaffer and Consigli Construction Co. are handling the design and construction of the property. This project marks King Street’s third major life science development property on Cambridge Park Drive, according to the company’s senior director.
Located at 101 Cambridge Park Drive, the new 160,000-square-foot building will replace a 111-space parking lot adjacent to 87 Cambridge Park Drive. A courtyard space will be connecting the two projects through a more than 9,000-square-foot boardwalk. The five-story property will consist of roughly 3,000 square feet of ground-floor retail space with outdoor seating, office and laboratory space above, as well as a 247-spot underground parking garage. Common-area amenities will include shower and changing rooms, on-site blue bike station, indoor bike storage and repair room, as well as a terraced outdoor courtyard.