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Old 05-15-2008, 12:44 PM   #1
JimboJones
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121 Brookline Ave

Is this worthy of its own thread?

(There is a very small rendering of the project, on the GlobeSt.com website.)

Boylston Properties Moving on Lab Project
By Joe Clements

Quote:
BOSTON-A green building is about to come out of the ground here mere blocks from the city?s legendary Green Monster at Fenway Park. The six-story, 130,000-sf laboratory facility at 121 Brookline Ave. is being developed by Boylston Properties, a Boston firm aiming to launch the pre-certified LEED project this summer.

"We have already received a high level of interest in the building," reports Richards Barry Joyce & Partners President Robert Richards, who negotiated the recent sale of 121 Brookline Ave. for $8.7 million, a transaction previously reported by GlobeSt.com. The so-called Longwood Research Center is especially attractive given its close proximity to the Longwood Medical Area, Richards explains, noting that the LMA is a nationally known hub for life sciences research and medical care.

Boylston Properties President William McQuillan terms the venture "an excellent investment," particularly in being fully permitted for construction. "We look forward to the successful completion of this project," says McQuillan, whose firm has retained Richards and RBJ VP Chris McCauley as exclusive leasing agents for the LRC.

The seller of the property, Paul Mattes, concurs that the LMA helped boost interest among buyers. LMA denizens include the likes of Beth Israel Deaconess Medical Center, Children?s Medical Center and Dana Farber Cancer Center. "The RBJ team did a fantastic job of identifying and then interfacing with potential purchasers," Mattes adds. "Their knowledge of the life sciences real estate market proved quite valuable."

Construction of the LRC could help alleviate a dearth of available lab space in Boston, with RBJ estimating the vacancy rate for 2.48 million sf of space, is just 1.7% at the end of the first quarter. The scant supply is cited in the latest issue of RBJ?s bioSTATus for just 86,000 sf of positive net absorption in Boston during the past three years, and RBJ?s semi-annual report of Greater Boston?s laboratory market says the result in Boston was negative 15,000 sf during the fourth quarter of 2007 and first quarter of 2008. Comparatively, Cambridge has absorbed 1.3 million sf of lab space during the last three years.

Relief could soon be on the way, however, given 140,000 sf that will be available when the 700,000 Center for Life Sciences Boston opens in the third quarter in the heart of the LMA. The city also recently approved a 336,000-sf laboratory building next to the Joslin Diabetes Center, although it will not be delivered until 2011.
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Old 05-15-2008, 01:23 PM   #2
briv
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Re: 121 Brookline Ave

From the project's site:







The Brookline Ave side features two ground level retail spaces:
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Old 05-15-2008, 01:39 PM   #3
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Re: 121 Brookline Ave

Not an exciting project, but the change it'll bring to Brookline Ave is much needed. Seriously, I'd be fine razing that whole stretch from Kenmore to Landmark.
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Old 05-15-2008, 06:11 PM   #4
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Re: 121 Brookline Ave

Whats there now? And I agree, the entire stretch from fenway to triology is bad.
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Old 05-15-2008, 07:51 PM   #5
JimboJones
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Re: 121 Brookline Ave

Mmm ... I can't wait to stop at the "Lab Acid Neutralization Room" for a snack on my way home from work.

WTF???
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Old 05-15-2008, 08:03 PM   #6
Arborway
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Re: 121 Brookline Ave

I think it's a really nice proposal, but if I ever patronize a ground floor retail business there, I'll be thinking of the "Lab Acid Neutralization Room" the entire time.
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Old 05-15-2008, 08:52 PM   #7
itchy
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Re: 121 Brookline Ave

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Originally Posted by jass View Post
Whats there now?
Looks like it's the Short-Stop Deli and a parking lot. Sounds good to me! I'll take biotech over parking any day.
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Old 05-16-2008, 10:57 AM   #8
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Re: 121 Brookline Ave

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Originally Posted by itchy View Post
Looks like it's the Short-Stop Deli and a parking lot. Sounds good to me! I'll take biotech over parking any day.
Are you sure that's the right spot? The Short-Stop Deli now has an Ace Ticket branch in it and they just moved in last year. Maybe scalping isn't as profitable as it used to be? Maybe they spent all their money on DiMasi?
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Old 05-16-2008, 11:58 AM   #9
itchy
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Re: 121 Brookline Ave

I'm pretty sure it's the right spot -- it is 121 Brookline, Ave, and if you look at the buildings surrounding the development in the renders vs. the buildings around Short Stop, they're the same.
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