{"id":1004605987,"date":"2022-10-07T03:41:24","date_gmt":"2022-10-07T11:41:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004605987"},"modified":"2022-12-09T02:30:39","modified_gmt":"2022-12-09T10:30:39","slug":"tishman-speyer-jv-opens-boston-life-science-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/","title":{"rendered":"Tishman Speyer JV Opens Boston Life Science Facility"},"content":{"rendered":"
\"105<\/a>

105 by Breakthrough. Image courtesy of Breakthrough Properties<\/p><\/div>\n

Breakthrough Properties<\/strong>, a joint venture between Tishman Speyer<\/strong> and Bellco Capital<\/strong>, has completed and delivered The 105 by Breakthrough, a 263,000-square-foot research and development facility located at 105 W. First <\/sup>St. in Boston.<\/p>\n

Biotechnology company CRISPR Therapeutics will occupy the entire space under a prelease agreement dating back to the development\u2019s ground breaking in 2020, using it as its new U.S. Research & Development headquarters.<\/p>\n

The announcement follows the joint venture\u2019s recent securing of $3 billion<\/a> in funds for the financing, construction and development of a global life science portfolio. The 105 was the first project to be completed after this announcement, with others under development in Philadelphia<\/a>, Boulder<\/a>, San Diego and Oxford.<\/p>\n

Construction on The 105 began in 2020 and is subject to a $209 million loan provided by Goldman Sachs,<\/strong> according to CommercialEdge data. The facility consists of Class A LEED- and Fitwell-certified lab and office space, with amenities including floor-to-ceiling glass windows, outdoor terraces, a fitness center, a bicycle room and a ground-floor caf\u00e9. Located between Boston\u2019s Fort Point and South Boston neighborhoods, the property will be within arm\u2019s length of many of the life science giant\u2019s elite research universities and numerous similar facilities.<\/p>\n

Boston life science leaps ahead<\/h2>\n

The Boston metro remains a leading market for life science development, containing over one-third of the nation\u2019s total pipeline of 21.6 million square feet, CommercialEdge data shows. Such a figure is mainly due to the city\u2019s large, condensed number of research universities, biotechnology companies and access to credentialed talent in the industry. Additionally, the city\u2019s office sector has posted the highest overall growth rate in the U.S., seeing more than $3 billion in transaction volume as of August 2022, according to the same data.<\/p>\n

Tishman Speyer Managing Director acknowledged the strength of the new facility\u2019s location, saying in a prepared statement that The 105 responds to the intense demand for life science space in dynamic, amenity-rich neighborhoods that attract today\u2019s top talent.<\/p>\n","protected":false},"excerpt":{"rendered":"

A biotechnology company will fully occupy the property. <\/p>\n","protected":false},"author":3012,"featured_media":1004605988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21782,21808,21754,21742,10,21747],"tags":[46343,49894,33435,33224],"class_list":["post-1004605987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-development","category-featured","category-medical-office","category-latest","category-northeast","category-office","tag-bellco-capital","tag-breakthrough-properties","tag-goldman-sachs","tag-tishman-speyer"],"acf":[],"yoast_head":"\nTishman Speyer JV Opens Boston Life Science Facility - CPE<\/title>\n<meta name=\"description\" content=\"The property was developed in a joint venture between Tishman Speyer and Bellco Capital, and will be fully leased to CRISPR Therapeutics.\" \/>\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\/tishman-speyer-jv-opens-boston-life-science-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tishman Speyer JV Opens Boston Life Science Facility\" \/>\n<meta property=\"og:description\" content=\"The property was developed in a joint venture between Tishman Speyer and Bellco Capital, and will be fully leased to CRISPR Therapeutics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/\" \/>\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=\"2022-10-07T11:41:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:30:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/EastdilSecured-105WFirstStreet-13-e1665091321952.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"621\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\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\/tishman-speyer-jv-opens-boston-life-science-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/\",\"name\":\"Tishman Speyer JV Opens Boston Life Science Facility - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/EastdilSecured-105WFirstStreet-13-e1665091321952.jpg\",\"datePublished\":\"2022-10-07T11:41:24+00:00\",\"dateModified\":\"2022-12-09T10:30:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\"},\"description\":\"The property was developed in a joint venture between Tishman Speyer and Bellco Capital, and will be fully leased to CRISPR Therapeutics.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/EastdilSecured-105WFirstStreet-13-e1665091321952.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/EastdilSecured-105WFirstStreet-13-e1665091321952.jpg\",\"width\":801,\"height\":621,\"caption\":\"105 by Breakthrough. 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