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Tue, May 18
A Compendium of Property & Capital News
May 18
A Compendium of Property & Capital News

The Davis Companies with Boston Development Group to Co-develop Life Science Campus in Watertown

April 25, 2021
66 Galen Street, Watertown MA

BOSTON — Davis Companies closed on a joint venture agreement with Boston Development Group (“BDG”) to co-develop 66 Galen Street, Phase 1 of a purpose-built Class A life science campus in Watertown, MA located on a five-acre site fronting on Galen Street, a highly traveled thoroughfare connecting Watertown Square to the Massachusetts Turnpike/I-90. Upon final buildout the campus will include more than 450,000 square feet of research and lab space in two buildings. Phase I will break ground in May, 2021.

Planned in close collaboration with the Town of Watertown, 66 Galen Street will address the growing need for quality life science space as short supply in Cambridge and Boston has prompted companies to search beyond traditional urban markets. Watertown, bordering Cambridge, is a prime location for research and lab facilities having grown a vibrant life science cluster and benefiting from significant life science company demand in the surrounding area.

“We are excited to be in partnership with Boston Development Group developing 66 Galen Street to meet the growing demands for Class-A, purpose-built lab space in Watertown,” said Mike Cantalupa, Chief Development Officer of The Davis Companies. “With historically low vacancy rates in the East Cambridge/Kendall Square market pushing some companies to look elsewhere for space, we believe that innovative life science companies will find real value in 66 Galen. Our location and the surrounding biotech cluster benefit from excellent transportation access and expansion alternatives along with the substantial open spaces accessible throughout the building, on the site and along the adjacent Charles River.”

Phase I of 66 Galen Street will be a 224,106-square-foot, Class A, inner suburban lab building that will be LEED Gold certified upon completion. One of the distinguishing factors of the project is its significant upgrade of the public realm along the Galen Street corridor. Forty percent of the site will be dedicated to parks and green spaces, and substantial transportation infrastructure improvements – including traffic signalization, lane widenings, dedicated bus lanes and sidewalks – will be completed with the project.

Designed by Elkus Manfredi Architects, the building will include five private tenant outdoor spaces with panoramic views of the Charles River and high-end amenity spaces, including a fitness center, locker rooms with showers, a 45-space bike room, on-site retail/café space, a hotel-style building lobby, and ample indoor parking.

Located on the highly visible Galen Street corridor connecting Watertown Square to the Massachusetts Turnpike/I-90, 66 Galen Street provides 10-minute access to Downtown Boston and easy access to Kendall Square (15 minutes) via I-90 or Soldiers Field Road. The site is easily accessible from a variety of desirable residential communities including Boston’s urban core and its western suburbs.