BioMed Realty Acquires 482K-SF Office Tower in Boston’s Seaport
BioMed Realty has acquired 601 Congress Street, a 482,000-square-foot office building in Boston’s Seaport district. The seller and sales price were not disclosed.
The LEED Platinum-certified office building previously served as John Hancock’s corporate headquarters and provides a life science conversion opportunity due to its robust mechanical and structural infrastructure as well as collaborative meeting areas and strong visual identity in the Seaport submarket. The converted building is scheduled to be delivered in the second half of 2022.
“Greater Boston is rated among the top biotechnology clusters in the world driven by the extraordinary levels of talent, science and capital that are present within our regional life science ecosystem. We are seeing a heightened demand for more space among our existing tenants and new companies entering the market, and BioMed Realty’s current Boston portfolio is nearly 100% leased,” said Colleen O’Connor, vice president at BioMed Realty. “The acquisition of this large-scale, world-class building offers growth opportunities for our current tenant roster of over 230 life science companies and is ideally situated to welcome new tenant relationships into our BioMed portfolio.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.