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Boston University Medical Center to begin third lab building

Boston/SF article

Published: Wednesday, February 18, 2004

BOSTON-- Boston University Medical Center haas selected Spaulding & Slye Colliers as development manager, construction manager, leasing agent and property manager for 670 Albany Street, an eight-story

160,000 square foot laboratory facility at BioSquare in Boston.

670 Albany Street is 50% preleased to Boston University Medical Center who will occupy part of floor 1 and all of floors 2 through 5 to serve as

expanded institutional research and instructional space. This is the third lab and research building within the 2 million square foot biomedical

research park in Boston's South End.

"We are very pleased to partner with Spaulding & Slye Colliers on a project that will allow for the development of much needed research space for institutional investigators and our external tenants. This development of this building facility is an important step forward in the continuing growth of BioSquare, Boston's largest research park," said Richard J. Towle, Senior Vice President, Boston University.

"Partnering with Spaulding & Slye Colliers creates a unique opportunity for Boston Medical Center to expand capacity for research space -- space that is much needed," said Paul Drew, Executive Vice President at Boston Medical Center.

This collaboration between Boston University Medical Center and Spaulding & Slye Colliers is an important component in facilitating relationships between industry and academia. These relationships provide significant scientific and economic benefit to the institutions and the metropolitan area.

670 Albany Street will be constructed on a 42,000 square foot site on

BioSquareTMs 14-acre campus. The flexible and efficient, state-of-the-art building is scheduled to be completed in 2005. It will be built

concurrently with an above-ground parking garage.

BioSquare is a state-of-the-art biomedical research and business park

currently under active development in Boston's South End. Directly

adjacent to Boston University Medical Center, the development is designed to support innovation in biomedical research and science and promote novel partnerships between academia and industry.

In addition to state of the art, build-to-suit-facilities, BioSquare

tenants are allowed access to an unprecedented array of biomedical research equipment and services, including an animal research facility, functional MRI, cardiovascular imaging suite, transgenic facility, mass spectrometry resource facility, and other general business services. Currently, BioSquare consists of the Center for Advanced Biomedical Research (200,000 square feet) and the Evans Biomedical Research Center (192, 000 square feet) and a 1,000 car parking garage with some office space. Future plans include building the National Emerging Infectious Diseases Laboratories.

BioSquare is centrally located and is highly visible from the Southeast

Expressway at the Massachusetts Avenue extension. It is a few blocks from MBTA service, and less than 10 minutes from downtown Boston, Logan Airport, the future Boston Convention Center. Current BioSquare tenants include: CombinatoRx Inc., Pulmatrix, NitroMed, Adipogenix and MassMedic. BioSquare recently opened the BioSquare Discovery and Innovations Center, an incubator facility focused exclusively on the needs of start up biomedical research companies.

Spaulding & Slye Colliers Senior Vice President and Project Director John

C. Duffy said the company is very pleased to have been selected by Boston University Medical Center. "We feel fortunate to be joining with one of the nation' most respected academic medical centers in this development. This is an important project for BioSquare and Boston. It invigorates the development at BioSquare, while helping to expand the entire life sciences community and fueling growth in the Greater Boston economy. Our goal is to create, service, and market a building not only of outstanding design and enduring quality, but one that is an integral part of BioSquare and its South End neighborhood," he said.

Spaulding & Slye Colliers Principal William P. Barrack will head up the

marketing and leasing effort of 670 Albany Street at BioSquare. Other

members of Spaulding & Slye Colliers' project team include: Senior Vice

President Dermot M. Roe, Vice President John A. Osten, Vice President

Thomas J. Hamill, and Assistant Vice President Peter C. Bekarian. The

building is being designed by Stubbins Associates, Inc.

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Biosafety lab in South End gets final OK. BU may start construction this month []




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