Alexandria Real Estate Equities

Rumors of Sale of Watertown Mall to Life Science Developer

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The Watertown Mall — home to Target, the RMV and Best Buy — could soon be sold to a developer looking to create life science lab space, according to a Boston Globe article. The potential deal involved a sale by owners Rosen Associates Management Corp. to Alexandria Real Estate Equities, which also owns the Arsenal on the Charles and the former Mount Auburn Club. The sales price of the 18-acre-site on Arsenal Street is reportedly $125 million, according to the Globe. The property lies in the Regional Mixed Use District (RMUD) zone in East Watertown, which allows for taller buildings (up to five stories) and more dense development (75 percent building coverage) than most areas of town.

Biotech

Former Watertown Flag Company Turned into Life Science Space

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A former flag factory in Watertown has been transformed into life science lab space. The former New England Flag and Banner building at 165 Dexter Ave. has been renovated and prepared for life science labs. The following information was provided by Ebbrell Architecture + Design:

Enticed by an open floor plan flooded with natural light, executives at startup Via Separations knew they found the perfect home in a former Watertown flag factory. Massachusetts-based Ebbrell Architecture + Design, a certified Woman-owned Business Enterprise, worked closely with Via Separations in rolling out a phased plan for the new headquarters, complete with a state-of-the-art wet lab that houses eight fume hoods — six benchtops and two walk-ins — as well as extensive prototyping space for the company’s revolutionary membrane filtration research.

Business

Galen Street Biotech Development Approved by ZBA

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A view of the life sciences building at 66 Galen St. approved by the Zoning Board of Appeals. This view is from Galen Street. The following piece was provided Boston Development Group:

Following months of planning discussions and community meetings, Boston Development Group (BDG) has received approval from the Watertown Zoning Board of Appeals (ZBA)  Thursday for a proposed life sciences development at 66 Galen Street in Watertown, Massachusetts. Boston Development Group (BDG), a multifaceted investment management and real estate development firm, plans to build a major life science campus comprised of two phases totaling nearly 450,000 SF of Class A Office/ R&D LAB.

Around Town

Community Meetings Planned on Proposal for Former Miller’s Ale House Site

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An illustration of the proposed One Arsenal Marketplace life sciences development. The building at 617 Arsenal St. used to be home to Miller’s Ale House. The developers of the building where Miller’s Ale House was located have scheduled two community meetings to go over a proposal for a new building, which calls for creating space for life science companies. The proposal calls for adding a third floor and a penthouse on top of the existing structure at 617 Arsenal St., near the intersection with Greenough Boulevard.

Business

Biotech Company Moving from Kendall Square to Watertown

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A biotech company currently located in Cambridge’s Kendall Square signed a lease to move into Watertown’s Arsenal on the Charles. Constellation Pharmaceuticals signed a 10-year lease with Alexandria Real Estate Equities, the owner of the complex on Arsenal Street, according to a report on Bisnow. The company specializes in developing novel therapeutics to be used in cancer treatment. Constellation will occupy on 79,000 sq. ft.

Development

Plans for Biotech Building in East Watertown to be Discussed at Public Meeting

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A map showing the proposed location for a three-story biotech building at 23 Elm St. in Watertown. The following information was provided by the Town of Watertown regarding a project at 23 Elm Street, just off Arsenal Street in East Watertown. Elm Street Partners will be hosting a virtual community meeting on November 23rd at 6:30 PM for the review and discussion of conceptual plans and specifics of the redevelopment of the site known as 23-29 Elm Street. The use of the site will be transitioned to research & development/lab-life sciences and ancillary office space with on-site parking.

85 Walnut St.

Life Science Building With Garage & Park Approved by Zoning Board

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A rendering of what the life science building at 85 Walnut St. will look like from Arsenal Street. The Zoning Board of Appeals gave final approval to a life science building on the former Doble Engineering property. The four story building near Arsenal Street will also have a parking garage and a park along Walnut Street. The project came before the board for the second time Wednesday night, and the board approve the project with some additional requirements.