Alexandria Real Estate Equities, the California-based life science property developer, announced an agreement to sell 268,000 square feet at 421 Park Drive, a 660,034-square-foot life science development in Boston's Fenway neighborhood, to an affiliate of Boston Children's Hospital. The price for the portion sold to Boston Children’s Hospital is approximately $155 million. The life science real estate investment trust said it also stands to earn development fees under the deal over the next three years.
Alexandria Sells Major Section of Fenway Life Science Development to Boston Children’s Hospital
Currently a Tenant, the Children’s Hospital Will Own 268,000 Square Feet in the New Facility Underway at 421 Park Dr.
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IN THIS ARTICLE
- Properties
- Alexandria Center for Life Science
421 Park Dr, Boston, MA
- Companies
- Alexandria Real Estate Equities, Inc.
Real Estate