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Newmark has arranged $514 million in construction financing for Phase I of Assembly Innovation Park’s life science tower in Somerville, MA.

BioMed Realty Celebrates Assembly Innovation Park Phase 1 Topping Off in Somerville

San Diego, CA-based BioMed Realty, a provider of real estate solutions to the life science and technology industries, has marked the topping off of Assembly Innovation Park Phase 1 in Somerville, MA. The 497,000-square-foot lab and office building (set for occupancy in 2024) will feature a ground floor with retail and fitness studio space that overlooks a public park.

Related: Newmark Arranges $514M Build Loan for Assembly Innovation Park in Somerville

Assembly Innovation Park will ultimately comprise three Class A lab and office buildings with multiple cafes and conference centers as well as an urban-style indoor/outdoor food hall. 

 “Assembly Innovation Park will be our first transformative development project in Somerville, and the topping off of Phase 1 represents an exciting milestone on our path to delivering a world-class life science campus infused with the energy of Assembly Row,” said Bill Kane, president of East Coast and United Kingdom markets at BioMed Realty.

BioMed Realty owns and operates life science real estate comprising 16.4 million square feet concentrated in leading innovation markets throughout the United States and the United Kingdom.

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BioMed Realty's Kane

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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