Developer blueprints $1B Cambridge biotech complex
Alexandria Real Estate Equities is blueprinting a billion-dollar, 1.5 million-square-foot complex of laboratories in Cambridge, MA to cater to the region's bustling life sciences industry. The project envisions six buildings occupying 16 acres between Kendall Square and the CambridgeSide Galleria in Cambridge. Industry observers say it's a positive signal that Massachusetts' biotech hub will continue to thrive for years to come, especially after lawmakers complete a long-awaited $1 billion incentive program to support the industry in Massachusetts.
Rising demand for lab space in the region has already doubled rents as vacancies dwindle and disappear. And Alexandria knows that better than anyone; the company manages 40 properties in Massachusetts.
- read the story in the Boston Globe
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