{"id":1004704416,"date":"2024-03-01T05:19:43","date_gmt":"2024-03-01T13:19:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004704416"},"modified":"2024-03-01T05:19:45","modified_gmt":"2024-03-01T13:19:45","slug":"north-river-leerink-inks-76-ksf-life-science-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/north-river-leerink-inks-76-ksf-life-science-lease\/","title":{"rendered":"North River Leerink Inks 76 KSF Life Science Lease"},"content":{"rendered":"\n<p><strong>North River Leerink<\/strong>, a joint venture between <strong>North River Co.<\/strong>, and <strong>Leerink Development<\/strong>, has landed a 76,000-square-foot lease at 100 Chestnut, a life science building in the Brickbottom District of Somerville, Mass. The lease brings the 200,000-square-foot asset to a 90 percent occupancy rate.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004704418\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/north-river-leerink-inks-76-ksf-life-science-lease\/100_chestnut\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg\" data-orig-size=\"800,620\" 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;1&quot;}\" data-image-title=\"100_Chestnut\" data-image-description=\"&lt;p&gt;https:\/\/www.businesswire.com\/news\/home\/20240229202903\/en\/North-River-Leerink%E2%80%99s-Successful-100-Chestnut-Street-Development-Continues-Somerville%E2%80%99s-Growth-as-a-Leading-Life-Science-and-Innovation-Hub&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;100 Chestnut in the Brickbottom District in Somerville, Mass. Image courtesy of North River Leerink&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg?w=800\" alt=\"\" class=\"wp-image-1004704418\" style=\"width:313px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/100_Chestnut.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">100 Chestnut in the Brickbottom District in Somerville, Mass. <em>Image courtesy of North River Leerink<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>ADA Forsyth Institute<\/strong>, a national leader in dentistry and biological research in oral health, signed the lease in the purpose-built building. <\/p>\n\n\n\n<p>Completed in 2023, 100 Chestnut is the first life science facility to be developed within <a href=\"https:\/\/www.commercialsearch.com\/news\/boston-area-life-science-project-gets-193m\/\">NRL\u2019s three-building mixed-use campus<\/a>. It includes 6,441 square feet of retail space and 218 parking spaces, CommercialEdge data shows. In 2022, <strong>Affinius Capital <\/strong>originated a $192.5 million construction loan for the project.<\/p>\n\n\n\n<p>Designed by <strong>Gensler<\/strong>, 100 Chestnut features 60,000-square-foot flexible floorplates and column-free zones. The LEED-Platinum certified asset is less than half of a mile from Cambridge\u2019s Kendall Square and Cambridge Crossing. Downtown Boston is within 4 miles. The East Somerville T Station is connected to the site via walking paths and the Green Line extension is property-adjacent.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/emerging-life-science-markets-stake-a-claim\/\">Emerging Life Science Hubs Stake a Claim<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Other tenants of the flagship property include Ultragenyx with a 42,500-square-foot lease, Charles River Accelerator and Development Lab with a 16,000-square-foot lease and an incubator platform set to occupy 42,000 square feet.<\/p>\n\n\n\n<p>The larger Brickbottom District project, upon completion, is set to include dining options, cafes, green spaces and walking and biking paths.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-life-science-hubs-in-boston\">Life science hubs in Boston<\/h2>\n\n\n\n<p>The Boston area has become an epicenter for life science activity. Through the first 10 months of 2023, strong life science fundamentals were enough to <a href=\"https:\/\/www.commercialsearch.com\/news\/life-sciences-bolster-bostons-office-market\/\">bolster the metro\u2019s development pipeline<\/a>. Now the area is continuing to see leasing and development activity, as more companies look to relocate or expand their footprint in the market.<\/p>\n\n\n\n<p>Also this month, Lincoln Property Co. and a MetLife Investment Management client landed a <a href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-metlife-land-70-ksf-boston-lease\/\" target=\"_blank\" rel=\"noreferrer noopener\">70,000-square-foot lease<\/a> at a life science building in Waltham, Mass. A biology-first AI powered biopharma company is set to establish its headquarters in the building, which totals 143,533 square feet.<\/p>\n\n\n\n<p>In January, a 250,000-square-foot development was <a href=\"https:\/\/www.commercialsearch.com\/news\/celera-properties-jv-completes-1st-phase-of-boston-life-science-redevelopment\/\">completed in Andover, Mass<\/a>. The technology park is being completed in phases and, upon completion, will become part of Andover\u2019s 3 million-square-foot life science presence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Completed in 2023, the suburban Boston property is now 90 percent leased.<\/p>\n","protected":false},"author":3006,"featured_media":1004704418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21742,10,21747],"tags":[52016,33012,43484],"class_list":["post-1004704416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-affinius-capital","tag-gensler","tag-north-river-company"],"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>North River Leerink Inks 76 KSF Life Science Lease - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Located in the Brickbottom District in Somerville, Mass., the asset is now 90 percent leased. 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