North River Leerink, a joint venture between North River Co., and Leerink Development, has landed a 76,000-square-foot lease at 100 Chestnut, a life science building in the Brickbottom District of Somerville, Mass. The lease brings the 200,000-square-foot asset to a 90 percent occupancy rate.
ADA Forsyth Institute, a national leader in dentistry and biological research in oral health, signed the lease in the purpose-built building.
Completed in 2023, 100 Chestnut is the first life science facility to be developed within NRL’s three-building mixed-use campus. It includes 6,441 square feet of retail space and 218 parking spaces, CommercialEdge data shows. In 2022, Affinius Capital originated a $192.5 million construction loan for the project.
Designed by Gensler, 100 Chestnut features 60,000-square-foot flexible floorplates and column-free zones. The LEED-Platinum certified asset is less than half of a mile from Cambridge’s Kendall Square and Cambridge Crossing. Downtown Boston is within 4 miles. The East Somerville T Station is connected to the site via walking paths and the Green Line extension is property-adjacent.
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Other tenants of the flagship property include Ultragenyx with a 42,500-square-foot lease, Charles River Accelerator and Development Lab with a 16,000-square-foot lease and an incubator platform set to occupy 42,000 square feet.
The larger Brickbottom District project, upon completion, is set to include dining options, cafes, green spaces and walking and biking paths.
Life science hubs in Boston
The Boston area has become an epicenter for life science activity. Through the first 10 months of 2023, strong life science fundamentals were enough to bolster the metro’s development pipeline. Now the area is continuing to see leasing and development activity, as more companies look to relocate or expand their footprint in the market.
Also this month, Lincoln Property Co. and a MetLife Investment Management client landed a 70,000-square-foot lease at a life science building in Waltham, Mass. A biology-first AI powered biopharma company is set to establish its headquarters in the building, which totals 143,533 square feet.
In January, a 250,000-square-foot development was completed in Andover, Mass. The technology park is being completed in phases and, upon completion, will become part of Andover’s 3 million-square-foot life science presence.
