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Boston Commercial Real Estate

BREAKING NEWS: 1.7 MILLION SIGNS OF LIFE SCIENCE

Alexandria Real Estate Equities jumped the final permitting hurdle Tuesday night for a 1.7M SF mixed-use lab project in East Cambridge. A company spokesperson did not return a call inquiring, but our back-of-the-envelope math indicates a total lab development cost of about $750M, plus res and retail. ?A sign of life,? says the City's manager of development Beth Rubenstein.
We expect to hear more at the NAIOP breakfast this morning from Alexandria's Tom Andrews, right, whom we snapped several weeks ago with colleague Joe Maguire. What we do know: Cambridge approved the final special permits for the 1.5M SF of labs, 220k SF of residential, and 20k SF of ground floor retail on a site that runs from 1st through 6th streets on either side of Binney. The City also gave the green light to the Elkus Manfredi design of the complex's first building at 100 Binney St. Tenant anyone?

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