BioMed Realty Acquires 162K-SF Office Building in Somerville

BioMed Realty has acquired a 162,000-square-foot office building and an adjacent seven-acre site at Assembly Square in Somerville, MASS. The sales price was not disclosed.

The Assembly Square campus will be developed in phases and represents a total of 1.3 million square feet of best-in-class, purpose-built innovation space for research, technology and life science tenants. BioMed Realty currently owns an established portfolio of lab and office space in Cambridge and Boston’s Longwood Medical Area as well as the Seaport District. The design of the initial phases of the 1.3 million square feet project are 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.

“Our vision for the Assembly Square location is to create a premier innovation campus where science and technology intersects,” said Sal Zinno, vice president at 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.”

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