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Alexandria Invests $155M to Build Life Science ‘Mega Campus’ in Boston
Alexandria Real Estate Equities Inc. is planning a “mega campus” on Dorchester Avenue in South Boston, spanning over 1 million square feet, Boston Business Journal reported. The developer contributed $155.3 million to joint ventures that now own several parcels on Dorchester Ave., including 285, 299, 307, and 345 Dorchester Ave., which are currently home to low-slung industrial buildings. Alexandria owns a 60% interest in the joint venture but has not identified its partner.
The parcels were previously owned by affiliates of National Development, with 345 Dot Ave. being part of the Iron Works mixed-use project that National Development got approved in 2021. The Iron Works project includes 11- and 13-story life sciences buildings and 11- and 15-story residential towers, though construction has not yet commenced.
Alexandria’s filing refers to the Dorchester Avenue parcels as part of its “Seaport Innovation District submarket.” The company recently sold two industrial buildings on E Street and a block of A Street parcels in South Boston.
- ◦Development
- ◦Financing
