A developer is buying Fenway’s Landmark Center in a $1.52b deal
Alexandria said it will keep developing the three-building, 1.8 million-square-foot complex with an eye to office and lab space.
The region’s biggest life science real estate developer is making a major move into the Fenway, the latest sign of the region’s hot market for lab space, the Globe’s Tim Logan reports.
Alexandria Real Estate Equities disclosed late Tuesday that it has a $1.52 billion deal in place to buy Landmark Center — the former Sears complex on the corner of Brookline Avenue and Park Drive — to continue developing it as a life science hub. The site is one of several in the Fenway that has been repositioned in recent years to house drug makers, researchers, and other health care-related firms that want to be near the Longwood Medical Area.
In documents filed with the Securities and Exchange Commission, Alexandria said it will keep developing the three-building, 1.8 million-square-foot complex with an eye to office and lab space. Samuels & Associates, which has led the development of the project in recent years, is currently building 510,000 square feet of office and lab space at 201 Brookline Ave., which is set to open in 2022.
Read the complete story at BostonGlobe.com.
Don’t have a Globe subscription? Boston.com readers get a 2-week free trial.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com