Somerville, MA, (February 3, 2020) – DivcoWest, joined by construction manager John Moriarty and Associates, recently celebrated the topping off of 250 Water Street in Cambridge Crossing (CX), the new 43-acre neighborhood under construction at the intersection of Cambridge, Somerville, and Boston. The brand new 480,000 square-foot state-of-the-art science and technology building will be home to global biopharmaceutical company Bristol Myers Squibb (NYSE:BMY).

250 Water Street is a 480,000 square-foot, nine-story life science building with ground floor retail and adjacency to ample green space. The building is a beacon upon entrance to CX via North First Street with its nine-story corner. For flexibility of tenancy, the life science focused building is designed with minimal interior columns to provide efficiently planned space for a variety of tenant sizes. Its 15-foot floor-to-floor height and average floor plate of 56,000 square-feet offer a spacious setting well-suited to a wide array of research-focused areas. DivcoWest anticipates the building’s delivery to occur in the first quarter of 2022.

Designed by Jacobs Consultants, 250 Water Street demonstrates DivcoWest’s commitment to sustainability and employs several state-of-the-art green features including LEED Silver, WiredScore Platinum, and WELL Platinum certifications. Complimenting the building’s superior access and proximity to two MBTA subway stops (Lechmere on the Green Line and Community College on the Orange Line), will be a large bike storage facility with lockers and showers, and three below-grade parking levels equipped with EV charging stations.

“250 Water St. will introduce another world-class research facility to Cambridge Crossing and we are thrilled that this key milestone brings us one step closer to welcoming global leader Bristol Myers Squibb,” said Mark Roopenian, Managing Director at DivcoWest. “We are grateful to the dedicated women and men working everyday onsite to bring CX’s innovation hub to life, and we look forward to serving as a home where critical breakthroughs happen in years to come.”

Announced in August 2020 and the largest lease completed in the Greater Boston area during 2020, Bristol Myers Squibb’s 360,000 square-foot lease at 250 Water Street elevates CX and Somerville as a life science destination and adds to the growing list of forward-thinking leaders who will call this new neighborhood home. At CX, Sanofi will soon occupy both 350 and 450 Water Street, while Philips North America and neuroscience-focused life science company Cerevel Therapeutics both currently reside at 222 Jacobs Street. Remaining science and technology space at CX includes 110,000 square-feet at 250 Water Street and 600,000 square-feet in two future buildings, one of which, 441 Morgan Avenue, a 375,000 square-foot science building, is scheduled to break ground this spring. The amount of commercial space leased and preleased at CX is approximately 1.7 million square-feet.

With close proximity to Kendall Square, MIT and Harvard, CX is a thoughtfully-designed, vibrant neighborhood and will be a dynamic life-science hub that inspires collaboration, innovation and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents and neighbors connected to two MBTA stations and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail, and more than 2,400 residences in addition to the already 2,500 residences in close proximity.

For more information and updates on CX, visit www.cambridgecrossing.com, or follow @CXCambridge on Instagram, Facebook, LinkedIn, and Twitter.

 

About Cambridge Crossing

Cambridge Crossing (CX) is a 43-acre, 4.5 million-square-foot transit-oriented neighborhood located at the intersection of Cambridge, Somerville, and Boston. Once complete, CX will offer 2.1 million-square-feet of state-of-the-art science and technology space, 2.4 million-square-feet of residential space that includes approximately 2,400 new units, and 100,000 square-feet of local and authentic retail for the community to enjoy. Eleven acres of activated open public and green space, including a central common, will benefit the thousands of incoming employees, residents, and neighbors adding to the vibrant and innovative East Cambridge and Kendall Square communities. The multiple modes of transportation including two MBTA lines will provide ease of access. Developed by DivcoWest and designed by a renowned team of local architects, CX buildings are/ will be LEED, WELL and Wired certified, while the neighborhood as a whole is pursuing Envision, SITES, WELL Community and Wired Neighborhood certification (CX will be the second Wired Certified Neighborhood in the country, providing seamless connectivity).

Publication: NBC Bay Area

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By: Abbi Agency

NOVA Luxury Apartments at the Summit, the new apartment homes in South Reno geared toward creativity and a spirit of collaboration, has named winners of The Art of Innovation, and will initially display the works at the Reno-Tahoe International Airport starting January 25th. INOVA was proud to introduce … read more

 

 

Cambridge, MA, (December 29, 2020) – DivcoWest, joined by construction partners John Moriarty and Associates and Consigli Construction, recently celebrated the topping off of two major parcels, 350 Water Street and 450 Water Street, in Cambridge Crossing (CX), the new 45-acre neighborhood under construction at the intersection of Cambridge, Somerville, and Boston. The brand-new state-of-the-art buildings will be home to global biopharmaceutical leader Sanofi and will be the company’s U.S. research headquarters with a consolidated workforce of nearly 3,000 employees.

“The topping off milestones of these two buildings are a huge achievement at Cambridge Crossing and are a testament to the hard work and dedication of the entire team. These milestones signify tremendous progress at the site during what has been an unprecedented year,” said Mark Roopenian, Managing Director at DivcoWest. “Now more than ever, we are committed to our goal of creating an interconnected ecosystem at CX in which innovative leaders in science and technology, like Sanofi, can create cutting-edge solutions to major healthcare issues impacting the world. This is a tremendous way to cap off 2020 and we are grateful to all the men and women on the site who’ve helped get us here.”

Designed by Perkins & Will, 350 Water Street will be a 501,000 SF state-of-the-art lab building  and 450 Water Street will be a 405,000 SF contemporary office building, designed by NBBJ. The buildings are designed with a focus on sustainability and will incorporate architectural elements and infrastructure that minimizes their impact on the environment such as solar shading fins to reduce heat gain and energy usage and a highly efficient chilled beam system. LEED Gold certifications are being sought at both buildings as well as Wired Score and WELL certifications.

Currently, there are as many as 350 workers every day across Sanofi’s two sites, using over 13,000 tons of structural steel combined. In September 2019, CX made history with its concrete pour at 350 Water Street – it was the largest continuous pour ever completed in the greater Boston region and included more than 800 truck loads of concrete.

Approximately 1.7 million square-feet of commercial space is leased and preleased at CX. In addition to Sanofi, Bristol Myers Squibb has signed a lease for 360,000 SF at 250 Water Street joining Philips North America and Cerevel Therapeutics, which currently occupy 435,000 SF at 222 Jacobs Street.  Remaining science and technology space at CX includes 110,000 SF at 250 Water Street and 600,000 SF in two future buildings. CX’s first residential building broke ground in early 2020 and its first retail building, The Shed, recently opened with Chef Will Gilson’s restaurants The Lexington and Café Beatrice.

With close proximity to Kendall Square, MIT and Harvard, the life science community at CX is a thoughtfully designed, vibrant neighborhood that inspires collaboration, innovation and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents and neighbors connected to two MBTA stations and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail, and more than 2,400 residences in addition to the already 2500 residences in close proximity.

For more information and updates on CX, visit www.cambridgecrossing.com, or follow along on Instagram, Facebook, LinkedIn, and Twitter.

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About Cambridge Crossing
Cambridge Crossing (CX) is a 43-acre, 4.5 million-square-foot transit-oriented neighborhood located at the intersection of Cambridge, Somerville, and Boston. Once complete, CX will offer 2.1 million-square-feet of state-of-the-art science and technology space, 2.4 million-square-feet of residential space that includes approximately 2,400 new units, and 100,000 square-feet of local and authentic retail for the community to enjoy. Eleven acres of activated open public and green space, including a central common, will benefit the thousands of incoming employees, residents, and neighbors adding to the vibrant and innovative East Cambridge and Kendall Square communities. The multiple modes of transportation including two MBTA lines will provide ease of access. Developed by DivcoWest and designed by a renowned team of local architects, CX buildings and the neighborhood as a whole will be LEED and WELL certified.  CX will be the second Wired Score Certified Neighborhood development in the country, providing seamless connectivity. For more information and updates, please visit www.cambridgecrossing.com, and follow along on Instagram, Facebook, LinkedIn and Twitter.

Publication: Bisnow
By: Andrew Martinez

For owners of Boston commercial space, 2020 was a year of bifurcation.

The coronavirus pandemic affirmed life sciences’ place as the dominant force driving major leasing activity in Boston and nearby suburbs, with anchor tenants securing significant footprints at incoming projects.

But only four office deals topped … read more

Publication: Commercial Property Executive
By: Razvan Cimpean

These metros account for more than 40 percent of the nation’s 2020 sales volume through October.

Investment transactions in the office market lost steam throughout the country year-to-date through October. Investors closed deals totaling … read more

 

Publication: The Boston Globe
By: Tim Logan

Labs, manufacturing plants, and offices remain in high demand, and not just in Boston and Cambridge.

The years-long building boom that has reshaped much of Greater Boston has taken a bit of a pause during the pandemic, except for one sector: life sciences.

The business of financing, building, and filling lab space, drug manufacturing facilities ― and even apartment buildings to house people who work in the industry ― has barely skipped a beat in recent months. Unlike office projects … read more

Publication: Investment Real Estate, Inc.
BY Kali Persall

The $28.6 billion Employees Retirement System (ERS) of Texas contributed $75 million to DivcoWest Fund VI during the month of September, according to a recent investment report.

DivcoWest Fund VI held its final close in October with $2.25 billion in capital commitments, going down in the record books as DivcoWest’s largest fund raised to date. The fund had a fund raising target of $1.5 billion.

DivcoWest Fund VI will primarily pursue the acquisition of existing value­ add life science, R&D and office properties in U.S. innovation markets, according to the firm. The fund will seek to invest additional capital to create workplace environments that appeal to future tenant demand.

DivcoWest’s previous fundraisings also raked in notable capital – in 2017, DivcoWest Fund V held a final close at $1.583 billion, exceeding its target of $1.5 billion.

Texas ERS joins a number of U.S. pension funds as investors in DivcoWest Fund VI, including the District of Columbia Retirement Board, the New Jersey Division of Investment, the Oregon State Treasury, Massachusetts Pension Reserves Investment Management Board, and the Teacher Retirement System of Texas, according to IREl’s FundTracker database. DivcoWest’s investor base also included insurance companies, sovereign wealth funds and high-net-worth individuals.

Texas ERS made the investment on behalf of its private real estate portfolio. As of September, Texas ERS had an 11.04 percent target to real estate against an 11 percent target.

 

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Publication: Commercial Property Executive
By: Lucia Morosanu

DivcoWest has sold Tasman at North First, a three-building property in San Jose, Calif., for $160 million. A South Korean investment group acquired the 317,612-square-foot office and R&D campus. A JLL team brokered the transaction.

According to public records,… read more