{"id":1004502892,"date":"2021-01-07T04:31:00","date_gmt":"2021-01-07T12:31:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004502892"},"modified":"2021-01-07T06:59:01","modified_gmt":"2021-01-07T14:59:01","slug":"biomed-realty-acquires-482-ksf-boston-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/","title":{"rendered":"BioMed Realty Acquires 482 KSF Boston Office Asset"},"content":{"rendered":"
\"\"<\/a>

601 Congress St. Image courtesy of BioMed Realty<\/em><\/p><\/div>\n

BioMed Realty has acquired the former corporate headquarters of Boston life insurance company John Hancock and plans to convert it into a life sciences building. Company spokesperson Maria Huntalas told Commercial Property Executive<\/em> that the seller of the the 482,000-square-foot property was a joint venture between UC Regents and Manulife, represented by Newmark.<\/p>\n

Located at 601 Congress St. in Boston\u2019s Seaport neighborhood, the office was previously occupied by John Hancock. The insurance company announced its plans to move out of its corporate headquarters at the time in 2018, according to a report from The Boston Globe<\/a><\/em>. The property earned a LEED Platinum designation and its amenities include a six-story atrium and event space, conference center, fitness center, cafe, bike storage, underground parking and two outdoor roof decks.<\/p>\n

\n

READ ALSO:<\/strong> Life Sciences Real Estate Demand Thrives<\/a><\/p>\n

\n

BioMed Realty plans to convert the vacated property into a life sciences building as the property was built with a suitable mechanical and structural infrastructure with wide column spacing and 12- to 14-foot ceiling heights. The design of 601 Congress St., which features collaborative meeting areas and strong visibility in the Seaport area, also lends to BioMed Realty\u2019s conversion plans. Huntalas told CPE<\/em> that the company will be starting design work soon and that The Richmond Group was tapped to build the conversion, which is expected to start in the second half of 2021.<\/p>\n

Booming Boston life sciences market<\/h2>\n

Colleen O\u2019Connor, vice president of BioMed Realty, said in prepared remarks that the growing demand for life sciences space is evident in Boston, as the company is seeing more demand from its existing tenants alongside the number of new companies entering the market. O\u2019Connor added that BioMed\u2019s Boston existing portfolio is nearly 100 percent leased.<\/p>\n

Over the years, BioMed Realty has been adding to its life science portfolio in Cambridge and Boston that now totals 5.9 million square feet. Most recently, BioMed Realty\u2019s parent company, Blackstone, announced in December that it would acquire 2.3 million square feet of lab office space mostly located in Cambridge for nearly $3.5 billion. Prior to the major addition to its portfolio, the company also secured a new tenant<\/a> with a 114,454-square-feet lease in its 301 Binney St. property in Cambridge in April 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Seaport District property will undergo conversion to a life science facility starting in the second half of 2021.<\/p>\n","protected":false},"author":883,"featured_media":1004507586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21808,21783,21742,10,21747],"tags":[32854,50878,32779,36007],"class_list":["post-1004502892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-featured","category-investment","category-latest","category-northeast","category-office","tag-biomed-realty","tag-john-hancock","tag-leed","tag-newmark-knight-frank"],"acf":[],"yoast_head":"\nBioMed Realty Acquires 482 KSF Boston Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BioMed Realty Acquires 482 KSF Boston Office Asset\" \/>\n<meta property=\"og:description\" content=\"The Seaport District property will undergo conversion to a life science facility starting in the second half of 2021.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-07T12:31:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-07T14:59:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1250\" \/>\n\t<meta property=\"og:image:height\" content=\"893\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/\",\"name\":\"BioMed Realty Acquires 482 KSF Boston Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg\",\"datePublished\":\"2021-01-07T12:31:00+00:00\",\"dateModified\":\"2021-01-07T14:59:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg\",\"width\":1250,\"height\":893},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BioMed Realty Acquires 482 KSF Boston Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\",\"name\":\"Jackson Chen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96\",\"caption\":\"Jackson Chen\"},\"description\":\"Jackson Chen is a Connecticut-based freelance writer who has reported on real estate for more than five years. He cut his teeth with real estate journalism when he previously wrote for Real Estate Weekly, the longest-running real estate publication in New York City. He has been writing for Multi-Housing News since late 2019.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jackson-chen\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BioMed Realty Acquires 482 KSF Boston Office Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"BioMed Realty Acquires 482 KSF Boston Office Asset","og_description":"The Seaport District property will undergo conversion to a life science facility starting in the second half of 2021.","og_url":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-01-07T12:31:00+00:00","article_modified_time":"2021-01-07T14:59:01+00:00","og_image":[{"width":1250,"height":893,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg","type":"image\/jpeg"}],"author":"Jackson Chen","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/","name":"BioMed Realty Acquires 482 KSF Boston Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg","datePublished":"2021-01-07T12:31:00+00:00","dateModified":"2021-01-07T14:59:01+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg","width":1250,"height":893},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-acquires-482-ksf-boston-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"BioMed Realty Acquires 482 KSF Boston Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1","name":"Jackson Chen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96","caption":"Jackson Chen"},"description":"Jackson Chen is a Connecticut-based freelance writer who has reported on real estate for more than five years. He cut his teeth with real estate journalism when he previously wrote for Real Estate Weekly, the longest-running real estate publication in New York City. He has been writing for Multi-Housing News since late 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/jackson-chen\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/601-Congress_Rendering_Exterior.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004502892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/883"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004502892"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004502892\/revisions"}],"predecessor-version":[{"id":1004503030,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004502892\/revisions\/1004503030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004507586"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004502892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004502892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004502892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}