DivcoWest Celebrates Steel Completion at Future Home of Bristol Myers Squibb02.03.21
DivcoWest, joined by construction manager John Moriarty and Associates, recently celebrated the topping off of 250 Water Street in Cambridge Crossing (CX), the new 43-acre neighborhood under construction at the intersection of Cambridge, Somerville, and Boston. The brand new 480,000 square-foot state-of-the-art science and technology building will be home to global biopharmaceutical company Bristol Myers Squibb (NYSE:BMY).
250 Water Street is a 480,000 square-foot, nine-story life science building with ground floor retail and adjacency to ample green space. The building is a beacon upon entrance to CX via North First Street with its nine-story corner. For flexibility of tenancy, the life science focused building is designed with minimal interior columns to provide efficiently planned space for a variety of tenant sizes. Its 15-foot floor-to-floor height and average floor plate of 56,000 square-feet offer a spacious setting well-suited to a wide array of research-focused areas. DivcoWest anticipates the building’s delivery to occur in the first quarter of 2022.
Designed by Jacobs Consultants, 250 Water Street demonstrates DivcoWest’s commitment to sustainability and employs several state-of-the-art green features including LEED Silver, WiredScore Platinum, and WELL Platinum certifications. Complimenting the building’s superior access and proximity to two MBTA subway stops (Lechmere on the Green Line and Community College on the Orange Line), will be a large bike storage facility with lockers and showers, and three below-grade parking levels equipped with EV charging stations.
“250 Water St. will introduce another world-class research facility to Cambridge Crossing and we are thrilled that this key milestone brings us one step closer to welcoming global leader Bristol Myers Squibb,” said Mark Roopenian, Managing Director at DivcoWest. “We are grateful to the dedicated women and men working everyday onsite to bring CX’s innovation hub to life, and we look forward to serving as a home where critical breakthroughs happen in years to come.”
Announced in August 2020 and the largest lease completed in the Greater Boston area during 2020, Bristol Myers Squibb’s 360,000 square-foot lease at 250 Water Street elevates CX and Somerville as a life science destination and adds to the growing list of forward-thinking leaders who will call this new neighborhood home. At CX, Sanofi will soon occupy both 350 and 450 Water Street, while Philips North America and neuroscience-focused life science company Cerevel Therapeutics both currently reside at 222 Jacobs Street. Remaining science and technology space at CX includes 110,000 square-feet at 250 Water Street and 600,000 square-feet in two future buildings, one of which, 441 Morgan Avenue, a 375,000 square-foot science building, is scheduled to break ground this spring. The amount of commercial space leased and preleased at CX is approximately 1.7 million square-feet.
With close proximity to Kendall Square, MIT and Harvard, CX is a thoughtfully-designed, vibrant neighborhood and will be a dynamic life-science hub that inspires collaboration, innovation and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents and neighbors connected to two MBTA stations and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail, and more than 2,400 residences in addition to the already 2,500 residences in close proximity.
About Cambridge Crossing
Cambridge Crossing (CX) is a 43-acre, 4.5 million-square-foot transit-oriented neighborhood located at the intersection of Cambridge, Somerville, and Boston. Once complete, CX will offer 2.1 million-square-feet of state-of-the-art science and technology space, 2.4 million-square-feet of residential space that includes approximately 2,400 new units, and 100,000 square-feet of local and authentic retail for the community to enjoy. Eleven acres of activated open public and green space, including a central common, will benefit the thousands of incoming employees, residents, and neighbors adding to the vibrant and innovative East Cambridge and Kendall Square communities. The multiple modes of transportation including two MBTA lines will provide ease of access. Developed by DivcoWest and designed by a renowned team of local architects, CX buildings are/ will be LEED, WELL and Wired certified, while the neighborhood as a whole is pursuing Envision, SITES, WELL Community and Wired Neighborhood certification (CX will be the second Wired Certified Neighborhood in the country, providing seamless connectivity).
Founded in 1993, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Boston, Washington DC and New York City. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, enhance health and foster well-being. Since inception, DivcoWest and its predecessor have acquired approximately 48 million square feet of commercial space throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com.
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