Why Watertown is Seeing a Development Boom
Among the number of projects underway in Watertown is the highly anticipated $400 million redevelopment of the old Arsenal Mall into what has been dubbed Arsenal Yards. It will feature 300 apartments, as well as new office and ground retail space, including eateries, a supermarket, a movie theater, and a hotel. One of the project’s developers, Boston-based Boylston Properties, also was behind a new Residence Inn by Marriott that opened in 2016 across from the Arsenal Yards site. It was Watertown’s first new hotel in more than 50 years. Boylston also developed LINX, a fully leased 185,000-square-foot lab space that sold last year for close to $158 million to New York-based Clarion Partners. The sale of LINX at more than $850 per square foot, as well as its roster of life science tenants, “cemented’’ Watertown as a player in an industry that’s been focused on Boston and Cambridge, said Aaron Jodka, director of research for the real estate firm Colliers International Group in Boston.
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New Life Sciences Building Planned for Arsenal Yards
A new building in Arsenal Yards could add to Watertown’s growing presence in the life sciences industry. The proposal calls for a mostly glass building on the southeastern section of the property facing the Charles River. It would have either eight or nine stories, stand 130 feet high and have approximately 155,000 square feet. Each floor would have between 16,000 and 20,000 square feet, likely supporting one or two tenants on each floor. The building would also include a garage.
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ARSENAL YARDS ANNOUNCE SQZ BIOTECH HAS SIGNED AS LEAD LAB TENANT
Boston-based real estate developer Boylston Properties is pleased to announce that cell therapy company SQZ Biotech has signed a 63,477 square foot lease at Arsenal Yards. With 200,000 square feet of lab and office space, Arsenal Yards is meeting the demand from the life science community for lab space in the East End of Watertown.
Set within an original 1800’s Arsenal historic building, with soaring 25’ ceilings, multiple boutique fitness operators, dedicated parking, and a private shuttle to Harvard Square, the new lab space is across the street from LINX, 185,000 square feet of new fully leased lab space, completed in 2018, also developed by Boylston Properties.
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Watertown’s Arsenal Yards to start opening in late 2019
The $400 million redevelopment of Arsenal Mall in Watertown’s East End is expected to start opening in late 2019, according to developers Boylston Properties and Wilder.
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