Clarion Partners announced today that it had entered into a joint venture with National Development, Charles River Realty Investors and Alexandria Real Estate Equities to develop a major life sciences and biotechnology building in Boston, Massachusetts. Located in the Longwood Medical Area of Boston, the project, dubbed Longwood Center, will include 413,536 square feet of space over 11 floors, with flexible laboratory, office and retail space to support tenants.
The property will be anchored by Dana-Farber Cancer Institute, one of the world leaders in cancer research and care, which has already committed to lease approximately 154,000 square feet. The area is home to numerous renowned medical, research and academic organizations including: Harvard Medical School, Beth Israel Deaconess Medical Center, Brigham and Women's Hospital, Joslin Diabetes Center and Children's Hospital-Boston.
"This project truly represents the next chapter in leading edge global research and development," said Mark Weld, Managing Director and Portfolio Manager in Clarion's Boston office. "We are pleased join with our development partners and Dana-Farber in being an integral part of making this vision a reality."
For more news and information visit Blumberg Capital Partners.
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