Joel Marcus

Stories

Alexandria sells Fenway lab tower before completion

Still shaping the company's strategic direction

Alexandria Real Estate Equities, the nation's largest life science landlord, has agreed to sell its 421 Park Drive lab tower in Boston's Fenway before construction wraps up. An institutional investor will take on about $136 million in remaining lab improvements, which Alexandria says cuts its construction spending.

Updated Oct 29

Notable Quotes

Life science is not office space. You can't in any way, shape or form associate it with generic office, which is, in fact, in secular decline.

from Alexandria sells Fenway lab tower before completion · Updated Oct 29

that transition is never simple and takes a fair amount of time

from Alexandria sells Fenway lab tower before completion · Updated Oct 29