Rendering of 1245 Worcester Road – Natick, MA

Burlington, MA HBC Properties & Investments (HBCPI) and StreetWorks Growth, HBC’s in-house actual property improvement arm, plan to transform a three-property, 360,000 s/f retail portfolio into life science amenities within the Boston metropolitan space.

Every of the three websites – positioned in Burlington, Natick and Braintree – are inside strolling distance of way of life and purchasing facilities. The areas can be reused to function analysis and improvement amenities appropriate for a wide range of life sciences and workplace makes use of.

Submit-pandemic demand for highly-convenient suburban places of work in Boston continues to develop as corporations search for lodging that meet the wants of staff within the present local weather. Whereas new provide pipelines to Boston’s life sciences market have grown through the years, these deliveries won’t eclipse demand for a while, and lots of suburban markets shouldn’t have walkable city amenities for them. HBCPI’s plan to adapt these areas for instant use is additional proof of the agency’s improvement savvy and skill to reuse precious actual property for makes use of that create social and financial worth of their respective communities.

Rendering of 250 Granite Road – Braintree, MA

Situated at 1320 Burlington Mall Street. In Burlington, 1245 Worcester St. in Natick and 250 Granite St. in Braintree, every of the three places will embody 120,000 s/f of workplace and communal area. Likewise, these buildings are positioned straight adjoining to retail complexes that present entry to a litany of way of life facilities, together with high-end retail, eating and hospitality choices inside strolling distance – Class A places of work for these life science properties. Extending the advantages traditionally related to the placement. The portfolio additionally gives entry to main transport arteries for an optimum journey expertise.

SGA is the main architectural and design consulting agency on the challenge. Leasing for the portfolio is being facilitated by Cushman & Wakefield, whose knowledge signifies a powerful supply pipeline of life science belongings in Boston that may exceed 3.9 million s/f in 2023, fueled by continued demand and funding. stronger than the upper charges. Market.

“For the reason that begin of the pandemic, Life Sciences Properties has emerged as essentially the most vibrant, high-performing asset in the marketplace. Nonetheless, because the epidemic subsides, the event of life sciences might want to re-orient itself to offer its tenants with a complicated stage of comfort and group. mentioned John Boyle, government vice chairman of Cushman & Wakefield. “HBC’s imaginative and prescient for this portfolio will present a singular alternative to attach high life science corporations in Boston’s suburbs with an unmatched expertise pool, whereas offering a stage of comfort exceptional within the suburban life sciences sector.”

1320 Burlington Mall Street – Burlington, MA

Recognizing the market’s broad urge for food for high quality life science area, HBCPI and Streetworks are at the moment working with related municipal authorities by means of rezoning and entitlement actions to carry these analysis amenities to market, a course of that isn’t restricted to present As a result of structural properties of the properties will intensify. With broad areas, massive ground plates and excessive ceilings – all of that are hallmarks of the event of the life sciences. The corporate anticipates receiving approval in Q3 and commencing renovations in Q3 2022.

Ken Narva, President and Chief Growth Officer of Streetworks, mentioned, “We’re very excited to be transferring ahead with this life science transformation in Boston, which permits us to faucet into the area’s wealthy historical past of innovation whereas maximizing the true worth of those properties. allows.” Growth. “We look ahead to leveraging our many years of improvement and placemaking expertise to create first-class amenities that greatest mix analysis and laboratory area, whereas offering tenants and their staff with a few of the greatest retail within the Boston metropolitan space. Offers entry to locations and way of life facilities.”

“Boston has lengthy been one of the crucial dynamic life science actual property markets within the nation, and demand for brand spanking new merchandise is outpacing provide,” mentioned Jerrold Birmingham, senior vice chairman at HBCPI. “HBCPI and Streetworks Growth will work intently with a staff of consultants, architects, designers and engineers to make sure a clean conversion technique that achieves the very best and greatest use of those belongings. Equally, a brand new lifestyle science improvement That is the proper alternative to exhibit approaches that join the historically remoted workforce inside these buildings to the broader group – a mannequin we imagine will finally cement Boston’s primacy within the life sciences market.

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