401 Park Drive (née Landmark Center) | Fenway

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The Boston Sports Club in Landmark Center has closed permanently as of this week.
 
I’m really excited for this one. Nice materials and I think it’s going to give Brookline Ave a considerably more dramatic canyon effect.
 
Samuels is selling to Alexandria:

www.bostonglobe.com

Developer buying Fenway’s Landmark Center in $1.52b deal - The Boston Globe

Alexandria Real Estate Equities plans to continue developing the former Sears complex as a hub for life science companies.
www.bostonglobe.com www.bostonglobe.com

I feel like this isn't great for the prospects for retail or housing at the site. Alexandria isn't in the business of landlording for REI or Regal.
 
Equilibria said:
Samuels is selling to Alexandria:

www.bostonglobe.com

Developer buying Fenway’s Landmark Center in $1.52b deal - The Boston Globe

Alexandria Real Estate Equities plans to continue developing the former Sears complex as a hub for life science companies.
www.bostonglobe.com www.bostonglobe.com

I feel like this isn't great for the prospects for retail or housing at the site. Alexandria isn't in the business of landlording for REI or Regal.
Click to expand...

Long term, perhaps, but the Globe mentioned that Alexandra's going to be acting as an asset manager, essentially replacing JP Morgan. Samuel's will still be handling site operations and development. Alexandria will probably force more lab space, but I can't imagine them saying no to the retail agreements already in place, at least for the time being.
 
stefal said:
Long term, perhaps, but the Globe mentioned that Alexandra's going to be acting as an asset manager, essentially replacing JP Morgan. Samuel's will still be handling site operations and development. Alexandria will probably force more lab space, but I can't imagine them saying no to the retail agreements already in place, at least for the time being.
Click to expand...
Also interesting that the Globe referred to it as a "three-building" complex.

I suspect that Alexandria being on board won't change much in the existing 401 Park building or in the currently-UC lab building, but maybe this will push a future Phase III (where the BBB is now next to the GL station) towards lab rather than another use.
 
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