Boston Pinnacle Properties Acquires Somerville Development Site for $2.7M

Boston Pinnacle Properties has acquired 45 Mystic Avenue in Somerville for $2,700,000. The developer, partnered with Boston Lab Services, is planning a 10-story, incubator laboratory building for biotech/pharmaceutical startup companies on the site. The 50,000 GSF building would include 25,040 square feet of state-of-the-art incubator laboratory space, 4,422 square feet of office/conference space, and 760 square feet of artisan space on the ground floor. The project will also feature a pocket park utilizing 25% of the site to be used by both building residents and the public. The site is located just steps from the growing lab cluster at Assembly Row where projects like Assembly Innovation Park & 74M are currently taking shape. “We are excited to become a part of the thrilling landscape of Assembly Row. We look forward to fulfilling a distinct market need for space where small lab companies can innovate and advance their ideas while providing a home for artisans and makers to create and thrive in a stimulating environment” said Adam Burns, president of Boston Pinnacle Properties.

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