The CRE Insider
Perhaps the most important moment in the history of the automobile industry was when Henry Ford developed and deployed the world’s first moving assembly line in 1913.
Jeff Bezos may or may not knock on DivcoWest’s door begging to build Amazon’s new headquarters at its NorthPoint site, but the development company is poised to offer new construction of office and lab buildings to meet life science and tech firms’ often-swift timetables for occupancy.
The Massachusetts Biotechnology Council (MassBio) is a private nonprofit committed to expanding the life science and health care industries in the Bay State. Its members include biomedical firms, academic hospitals and allied organizations.
The Massachusetts life sciences industry – home to 17 of the top 20 biopharmaceutical firms, all 10 of the world’s leading medical device companies and 900 other biopharma companies and medical device makers – is booming.
Alexandria Real Estate Equities owns more than 6 million square feet of life science properties in Greater Boston, or approximately one-third of its national portfolio, but it still has room to grow. The Pasadena, California REIT acquired the Metropolitan Pipe & Supply Co. property in Cambridge’s Kendall Square this spring for $80.25 million and is drawing up plans for the life science mecca’s latest major lab complex. Alexandria also is testing the suburban market’s demand for additional life science space, as it converts two floors of office space to labs at 266-275 Second Ave. in Waltham after acquiring the property in July for $70.7 million. Tom Andrews leads the company’s Greater Boston operations including development of the 2.6-million-square-foot Alexandria Center at Kendall Square campus.
Cambridge, one of the top three life sciences markets nationally, is considered the epicenter due to numerous factors. The most significant is proximity and access to area universities and research institutions, such as MIT, Harvard, the Broad Institute and the Whitehead Institute.
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