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ADA Forsyth Research Institute’s recent lease for 76,000 square feet at 100 Chestnut represents 90% occupancy in the North River Leerink LEED Platinum Life Sciences Building.
Somerville, Massachusetts, February 29, 2024–(BUSINESS WIRE)–North River Leerink (NRL) proudly announces recent milestones in real estate development, transforming Somerville’s Brickbottom neighborhood into a vibrant mixed-use development. Played a vital role in rebuilding the transportation hub of uses, science and art. At the heart of this transformation is 100 Chestnut, a 90% leased, 200,000 square foot purpose-built life sciences building that enables innovation and supports the creation of a sustainable and vibrant society. reflects NRL’s passion and focus on developing world-class buildings. community.
“NRL is excited to work with the City of Somerville and the local community to take advantage of the recently opened East Somerville T Station and adjacent Community Pass. “Our goal is to contribute to the development of a rich, vibrant and diverse district that enables innovation in the life sciences/biotechnology industry,” said Jeff Leerink, managing partner at NRL. “In addition to the 100 Chestnut development, the first of three sites to be developed, the NRL is investing in a cafe, restaurant, open space and new pedestrian and cycle connections to the community path and T Station. .”
The flagship property has become a hub of leasing activity, attracting upscale tenants that highlight Somerville’s potential as a destination for life science companies. Ultragenics, which is relocating from Kendall Square, leased 42,500 square feet to consolidate research and development on the East Coast. Charles River Accelerator and Development Lab (CRADL) leased 16,000 square feet to open a contract animal care facility and in-vivo services facility. The unique incubator platform expands its offering from 42,000 square feet of Kendall Square, directly adjacent to CRADL, offering highly flexible options for early-stage and fast-growing life sciences companies that need space quickly. We are building a pre-built ecosystem. Terms of Use and Access to Many Services Available. And recently, ADA Forsyth, a leading research institute dedicated to improving oral and systemic health through innovative research and community outreach, leased 76,000 square feet.
ADA Forsyth Institute CEO Dr. Wenyuan Shi said, “ADA Forsyth selected 100 Chestnut because it provided the perfect environment to build a new, state-of-the-art home for our laboratory.” said. “After an extensive, multi-market site selection process, 100 Chestnut was identified as necessary for the success of this prestigious research institution for generations to come,” said Bob Coughlin of the JLL team representing ADA Forsyth. It was clear that we had all the ingredients,” he added.
Adjacent to 100 Chestnut, NRL and its partner Wheelock Street Capital have had similar success, recently leasing 97,000 square feet to Form Energy at 200 Inner Belt. The Innerbelt development is a unique location that supports the emerging ‘green technology’ economy by providing real estate with large floor plates, robust power supplies and flexible space for offices, research and manufacturing. certified and provides immediate access to all new equipment. Talented people living in and around the Green Line/East Somerville T Station. “We are excited to work with Form Energy and its team to find a real estate solution that supports the exceptional company’s needs and unique requirements that will enable continued growth,” said Chris Pakios, NRL Managing Partner. I’m very happy to be able to do this.”
The collaborative efforts of NRL and its partners, including Newmark, JLL, Redgate, Consigli, JC&A, Gensler, Buro Happold, VHB, Colliers, Cushman, and CBRE, are transforming the Brickbottom neighborhood into a vibrant and innovative district. We emphasize our commitment to promoting the Economic growth and positive community impact.
About North River Leerink:
North River Leerink is a real estate investment and development firm focused on acquiring, developing, and managing next-generation real estate to support organizations shaping the future of the life sciences and innovation economy.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240229202903/ja/
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Doug Gensler
dgensler@northriverco.com
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