{"id":1004607861,"date":"2022-10-20T04:08:33","date_gmt":"2022-10-20T12:08:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004607861"},"modified":"2022-12-08T18:08:05","modified_gmt":"2022-12-09T02:08:05","slug":"greatland-rockwood-land-financing-for-boston-area-life-science-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/","title":{"rendered":"Greatland, Rockwood Land Financing for Boston-Area Life Science Project"},"content":{"rendered":"<div id=\"attachment_1004607865\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004607865\" data-attachment-id=\"1004607865\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/riverside-labs\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\" data-orig-size=\"960,720\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Riverside Labs\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Riverside Labs&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg?w=960\" class=\"wp-image-1004607865 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg 960w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004607865\" class=\"wp-caption-text\">Riverside Labs. Image courtesy of Gensler<\/p><\/div>\n<p><strong>Greatland Realty Partners<\/strong> and <strong>Rockwood Capital<\/strong> are moving forward with their Riverside Labs project in Weston, Mass., after securing financing. Working on behalf of the joint venture, <strong>Newmark<\/strong> procured the lender, <strong>The Royal Bank of Canada<\/strong>, which will provide up to $150 million for the project.<\/p>\n<p>Greatland acquired the former Liberty Mutual campus, a two-building office property with 245,000 square feet on 16 acres, in December 2020. The following spring, the firm was able to rezone the site to allow for life science uses and additional density. As a result, the new ownership began a phased renovation on the existing construction along with the development of a new facility.<\/p>\n<h2>Weston&#8217;s upcoming campus<\/h2>\n<p>Renamed as Riverside Labs, the future life science campus will total 340,000 square feet across three buildings. Greatland and Rockwood are conducting a full renovation of the 120,000-square-foot 9 Riverside while doing a lab conversion of the 90,000-square-foot 20 Riverside. The joint venture\u2019s addition to the campus will be a 130,000-square-foot facility dubbed 15 Riverside.<\/p>\n<p>The project will also include a new parking garage and a 10,000-square-foot expansion to 9 Riverside that will serve as gathering space and food hall. Riverside Labs\u2019 first building is expected to be ready for tenant occupancy by next summer.<\/p>\n<p>The property is 15 miles away from Boston and Cambridge. The location provides easy access to the nearby interstates 90 and 95, the MBTA Green Line\u2019s Riverside station and the MBTA commuter rail\u2019s Auburndale station.<\/p>\n<h2>Feeding the life science boom in Boston<\/h2>\n<p>For Greatland, Riverside Labs is only one of several Boston-area life science projects. The developer also has three lab\/office projects totaling roughly 640,000 square feet in Lexington, Mass., one of which being still under construction.<\/p>\n<p>It\u2019s not only Greatland taking advantage of the ongoing life science boom in the Boston area. Earlier this month, Breakthrough Properties completed <a href=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-jv-opens-boston-life-science-facility\/\">a 263,000-square-foot research and development facility<\/a> in Boston that already has its first tenant. The metro&#8217;s pipeline also includes a <a href=\"https:\/\/www.commercialsearch.com\/news\/cv-properties-jv-lands-278m-for-boston-life-science-project\/\">334,000-square-foot life science development<\/a> in Somerville, Mass., that recently was the recipient of a $278 million construction loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Royal Bank of Canada will provide as much as $150 million for the new development. <\/p>\n","protected":false},"author":883,"featured_media":1004607865,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21782,21825,22251,21742,21747],"tags":[36695,50999,32839],"class_list":["post-1004607861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-development","category-finance","category-in-focus","category-latest","category-office","tag-life-science-real-estate","tag-newmark","tag-rockwood-capital-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Greatland JV Lands Financing for Boston-Area Life Science Project - CPE<\/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\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greatland, Rockwood Land Financing for Boston-Area Life Science Project\" \/>\n<meta property=\"og:description\" content=\"The Royal Bank of Canada will provide as much as $150 million for the new development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/\" \/>\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=\"2022-10-20T12:08:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:08:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/\",\"name\":\"Greatland JV Lands Financing for Boston-Area Life Science Project - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\",\"datePublished\":\"2022-10-20T12:08:33+00:00\",\"dateModified\":\"2022-12-09T02:08:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg\",\"width\":960,\"height\":720,\"caption\":\"Riverside Labs\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Greatland, Rockwood Land Financing for Boston-Area Life Science Project\"}]},{\"@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":"Greatland JV Lands Financing for Boston-Area Life Science Project - CPE","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\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/","og_locale":"en_US","og_type":"article","og_title":"Greatland, Rockwood Land Financing for Boston-Area Life Science Project","og_description":"The Royal Bank of Canada will provide as much as $150 million for the new development.","og_url":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-10-20T12:08:33+00:00","article_modified_time":"2022-12-09T02:08:05+00:00","og_image":[{"width":960,"height":720,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.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\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/","url":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/","name":"Greatland JV Lands Financing for Boston-Area Life Science Project - CPE","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg","datePublished":"2022-10-20T12:08:33+00:00","dateModified":"2022-12-09T02:08:05+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Riverside-Labs-e1666264278143.jpg","width":960,"height":720,"caption":"Riverside Labs"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/greatland-rockwood-land-financing-for-boston-area-life-science-project\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Greatland, Rockwood Land Financing for Boston-Area Life Science Project"}]},{"@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\/2022\/10\/Riverside-Labs-e1666264278143.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004607861","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=1004607861"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004607861\/revisions"}],"predecessor-version":[{"id":1004608058,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004607861\/revisions\/1004608058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004607865"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004607861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004607861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004607861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}