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Further Expansion of BXP Life Sciences Portfolio in Waltham, Massachusetts
WALTHAM, Mass., July 29, 2021--(BUSINESS WIRE)--On Friday, July 16, 2021 Boston Properties, Inc. (NYSE:BXP), the largest publicly traded developer, owner, and manager of Class A office properties in the United States, celebrated the groundbreaking of 180 CityPoint, a 329,000 square foot life sciences building currently under construction at 180 Third Avenue in Waltham, Massachusetts. 180 CityPoint is located within the CityPoint district in Waltham, a highly desirable location for leading and emerging companies in the life sciences and biotechnology sector. The six-story building will feature over 310,000 square feet of lab and office space in addition to over 19,000 square feet of amenities and a floor of office space available to tenants with flexible lease terms. Amenities will include a food hall, expansive outdoor roof deck, boutique wellness center with indoor basketball court, shared meeting facilities, and covered parking. The construction of 180 CityPoint builds on BXP’s 4.9 million square feet of lab and Class A office properties in the Waltham/Lexington region of Massachusetts.
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Photo courtesy of Consigli Construction Co., Inc.
"We are proud to celebrate the groundbreaking of 180 CityPoint which further solidifies the CityPoint district as a presiding destination for life sciences organizations and top talent," said Bryan Koop, Executive Vice President, Boston Region, BXP.
"We are incredibly proud to expand our existing Life Sciences footprint in Waltham and continue to create space and place for scientific discovery for the growing demand of companies in the biotechnology sector," said David Provost, Senior Vice President of Development and Co-Head of BXP Life Sciences.
Boston Properties will own and operate 180 CityPoint. The project is being constructed by Consigli Construction Co., Inc. and Stantec is the architect of record. McNamara Salvia is the structural engineer, Bala Consulting Engineers is the MEP engineer, VHB is the civil engineer, Sanborn Head is the geotech engineer, and Lemon Brooke is the landscape architect.
About BXP Life Sciences
BXP Life Sciences consists of an existing portfolio of more than three million square feet focused on the specific needs of the life sciences industry, primarily in the leading innovation markets of Boston, Cambridge, and Waltham/Lexington, Massachusetts and San Francisco and Los Angeles, California. In addition, BXP has approximately six million square feet of life sciences-focused development opportunities, including approximately one million square feet of current lab developments and redevelopments in process that are expected to deliver in the next 24-36 months.
About Boston Properties
Boston Properties (NYSE:BXP) is the largest publicly traded developer, owner, and manager of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires, and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 51.6 million square feet and 196 properties, including nine properties under construction/redevelopment. For more information about BXP, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.
This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words "will," "expects," "could," "intends" and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Boston Properties’ control and could materially affect actual results, performance or achievements. These factors include, without limitation, the Company’s ability to complete the construction project on time, within budget or at all, the uncertainties of real estate development activity, the ability to effectively integrate new developments, the effects of local, national and international economic and market conditions, and other risks and uncertainties detailed from time to time in Boston Properties’ filings with the SEC. Boston Properties does not undertake a duty to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Rebecca Stoddard, Marketing Director, Boston Properties, 617.236.2342