Developer Related Beal and has attracted 22,000 square feet in lab leases to 451 D St., a vintage building it’s updating in Boston’s Fort Point neighborhood.

Boston-based Related Beal is adding to its real estate portfolio in Boston’s Seaport District with the $276-million acquisition of an 85-percent leased office and lab building.

The 9-story, 477,000-square-foot 451 D St. includes such tenants as J.P. Morgan Chase, RDK Engineers and Alion Science and Technology. Related Beal said it plans to upgrade the building’s infrastructure to attract more life science companies to the Seaport. The building has lab-ready infrastructure, updated amenities including a 20,000-square-foot child care center and shuttles to South Station and North Station.

The seller was a joint venture of Meritage Properties, State Street Corp. and Commonwealth Ventures.

Related Beal is partnering with Kavanagh Advisory Group on development of the iSQ Seaport lab building at 6 Tide St., the first phase of which opens in 2019 and will be anchored by Mass Innovation Labs. It also acquired 27 Drydock in the Raymond L. Flynn Marine Park in late 2016 for $146.5 million and has attracted a group of life science and biotech tenants to the 286,000-square-foot former Army warehouse.

This article was updated to correctly identify one of the joint venture members that sold the property.

Related Beal Has Lab Strategy for New Seaport Acquisition

by Steve Adams time to read: 1 min
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