Construction of the 500 Forge began in March 2021.
WATERTOWN, MA Boylston Real Estate, a Boston-based multipurpose developer, has officially unveiled 500 forges, a life science building located on Arsenal Street and occupying a prominent position among the well-maintained Arsenal Shipyard… Currently under construction is 120,000 sq. Biological science feet. 500 Forge is the latest development from Boylston Properties in Watertown, including LINX, 200 Arsenal Yards Blvd. and the future 100 Forge. 500 Forge will be ready to move in biomedical companies by August 2022.
The East End in Watertown has become a liaison for life sciences companies, which currently occupy over 1 million square feet of real estate in the area, with an additional 1 million square feet under development; at the center of everything is Arsenal Yards. Boylston Properties is transforming the 500 Forge into a specially refurbished life sciences building with 15-18 foot ceilings, new mechanical systems, open balconies, covered parking and the perfect ground floor for strong chemists and GMP users.
“As one of the first in the region to work with industry leaders such as Alexandria Real Estate to develop a purpose-built life sciences space in Watertown, we are delighted to see this emerging cluster on the Alston / Brighton / Cambridge border gain momentum.” , said Bill McQuillan, founder of Boylston Properties… “Arsenal Yards is a life sciences recruiters dream, offering many retail, fitness and entertainment amenities to recruit and retain talent. The community and expertise we create, which are in the final stages of development, are attracting best-in-class life sciences companies that want the perfect working environment for their teams. ”
Construction and demolition began in March 2021, and a $ 93 million construction loan for the project was provided by Wells Fargo with the participation of a consortium of banks including BMO Harris Bank and HSBC Bank USA. Jacobs is the architect and PIDC Construction is the official contractor. Cushman & Wakefield leads the leasing process in one of the life sciences industry’s most in-demand markets today.
“In our early conversations about leasing the 500 Forge proved to be the best choice for life sciences companies looking for room to grow,” said Duncan Gratton of Cushman & Wakefield… “Arsenal Yards is the central point of sale for the rest of Watertown, making 500 Forge incredibly attractive to companies that want to be at the center of it all. Combined with Boylston Properties’ reputation for delivering high quality life sciences products and the speed at which companies can get started, we predict the 500 Forge will quickly lease out. ”
Arsenal Yards is a new neighborhood home to Boylston Properties, The Wilder Companies and JP Morgan that boasts over 50 carefully curated shops and restaurants, a Majestic 7 Cinema, Roche Bros. grocery store, 300 contemporary apartments and Hampton Inn & Suites with 146 rooms. Hilton. Life sciences companies at Arsenal Yards can take advantage of the Charles River, easy access to public transportation, a free shuttle to Cambridge, a dedicated Bluebikes station, bike paths and over 2,800 parking spaces throughout the hotel.
In addition to dozens of biotech companies in the East End of Watertown, the 500 Forge is being built adjacent to Watertown’s newest iconic building: 100 Forge, a purpose-built nine-story all-glass building, 165,600 sf at Arsenal Yards. In addition, Arsenal Yards houses SQZ Biotechnologies, Arkuda Therapeutics and Kymera Therapeutics, which occupy 108,000 sq. Ft in life sciences space at 200 Arsenal Yards Boulevard, one of the original historic Arsenal buildings.
Arsenal Yards is expected to be completed in late 2021, followed by 500 Forges in late summer 2022.
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