BioMed To Buy South End Office Project From CIM, Nordblom, For Another Lab Pivot

Photo credit: Google Maps
321 Harrison St., Left, And 1000 Washington St, Center, In Boston.

BioMed Realty Trust continues to push the life sciences conversion wave in Boston, quietly taking over two prominent development sites.

The Blackstone-backed life sciences investor has entered a purchase agreement with a joint venture for the existing 1000 Washington St. office building and rising 321 Harrison St. development, it announced Monday in a public filing. The adjacent buildings in the South End are BioMed’s latest play to capture the lab market's sky-high demand amid meager supply.

Developers Nordblom and CIM jointly owned the 11-story, 242K SF office building at 1000 Washington St. and previously planned a 235K SF, eight-story office building atop the parking garage at 321 Harrison St. BioMed will make minimal changes to the already-constructed core and shell at 321 Harrison St., but plans to add more robust mechanical systems, it said in its filing with the Boston Planning and Development Agency.

The Blackstone subsidiary didn’t elaborate on its plans for 1000 Washington St. The companies didn't respond to requests for comment Tuesday, and the transaction details weren't available in Suffolk County land records.

The 321 Harrison St. site has no committed tenants, and BioMed wrote anticipated lab, research and development uses at the site will generate types and quantities of waste “common to most laboratory research facilities.” Modifications to the building could begin as early as June, BioMed said in the filing.

The new disclosure has heightened relevance as city councilors and community representatives demand more oversight of the city’s surge of lab projects. Residents have professed uncertainty over the type of research coming into their neighborhoods. The 1000 Washington St. building houses state government offices and retail tenants.

BioMed’s new acquisitions sit miles from 601 Congress St., the 14-story former John Hancock Life Insurance Co. headquarters it bought from Manulife for $362M in December.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Whoop Looks To Double Boston Footprint With 107K SF Lease

Bell Partners Buys Reading Apartments For $96M: The Boston Deal Sheet

Owner Lands $67M Loan To Renovate Apartments On Revere Waterfront

Houston's Generation Park Lands Another $2.3B Pharma Manufacturing Investment

Reset Basis: How Hudson Assembly Is Bringing New Life To Boston Office Buildings

Top Brokers Leave Newmark After Suing Firm, Boss

Faneuil Hall Owner J. Safra Group Sues Tenants, Alleging $2M In Unpaid Rent

Senior Housing Sector Faces New Problem In Massachusetts: Deportations Of Employees

Alexandria's $73M Quarterly Loss Highlights Deepening Life Sciences Real Estate Slump

Panera Signs 102K SF Lease To Move HQ To Weston: The Boston Deal Sheet

Alexandria Warns $183M Loss On Table In Legal Battle Against NYC

The Davis Cos. Sells 2 Fenway Apartment Buildings For $37M