Boston Landing Update 03/17/21
Boston Landing Development Site Sold for $67 Million, 320K SF Lab Development Planned
60 Guest Street, an approved development site at Boston Landing, was sold by NB Development Group, LLC to a partnership between Lendlease and Ivanhoé Cambridge for $67,000,000. The two companies have proposed a 320K SF, nine-story office and lab building designed by SGA for the site, right next to New Balance's headquarters and practice facility.
"This project is further evidence of the strength of our integrated platform and end-to-end capabilities," said Lendlease Americas CEO Denis Hickey in a statement. "60 Guest Street demonstrates our global strategic focus on delivering a diverse and robust pipeline of development projects alongside best-in-class capital partners like Ivanhoé Cambridge."
"60 Guest will be a spectacular mixed-use, transit-oriented development strategically located within the Allston/Brighton neighborhood, with close proximity to Cambridge's Kendall Square, the epicenter of the life science market in Greater Boston and across North America." said Jonathan Pearce, Executive Vice President of Leasing and Development for Ivanhoé Cambridge. "This new life science building will offer exceptional and ultramodern amenities to cater to the robust demand for specialized life science and research facilities in the Boston area."
The site features 50,036 square feet of land and is approved for up to 320,000 gross square feet of development and up to 165 feet in height. The sale was brokered by JLL.