Pasadena, Calif.-based Alexandria Real Estate is developing 50,000 sf in Cambridge as speculative, generic lab space. Built out to between 80 percent and 100 percent completion, 790 Memorial Drive will facilitate quick move-in of early-stage life science companies. The project site is being developed for Alexandria by Spaulding & Sly of Boston and is located behind Polaroid Corp.'s headquarters. Spending the requisite $150 per square foot for top-class built out lab space, Alexandria is currently expecting lease prices between $80 to $85 per square foot; East Cambridge first-class lab space in shell condition leases for approximately $65/sf. The facility houses 14 individual lab suites of 2,500 sf each. Flexibility, with suite combination options and an expandable number of fume hoods, accompanies "plug and play" ready usability of lab casework, countertops, fume hoods, and floor and ceiling tile. Alexandria is also developing the adjacent 50,000-sf 770 Memorial Drive to lease in shell condition.
Alexandria Real Estate Develops Cambridge Lab Space
Cambridge, Mass.
