74M (EDGE Assembly Sq.) | 74 Middlesex Ave | Somerville

[sean99090900]

 

[DZH22]

Great pic! Looks like it's still empty.

 

[Longfellow]

Love living in a post-profit era. Nothing needs to make money. It need only be financed.

 

[Czervik.Construction]

Great pic! Looks like it's still empty.
View attachment 62993

We don't like to use labels like, "empty". We prefer to use more empathetic terms like, "waiting for the right biotech to call us home".
I was presented an opportunity to invest in the REIT as an LP on this project. I am happy I passed in the short term, but I think in 5 years this place will be full, but at lower $/sf.

 

[chrisbrat]

Kind of a repeat of Sean’s recent post but…

 

[NorthshoreCity]

Finally some movement on securing some tenancy for this building per Fierce Biotech: "One such project was 74M. The 15-story, 465,000-square-foot building has sat empty since being built in 2024, though it recently signed a lease for floors 2-4 with MGB’s pathology lab. The team should move in within the next 18 months, according to 74M developer Greystar’s Senior Director of Life Science Investment Management Matt DeNoble."

https://www.fiercebiotech.com/biotech/its-just-survival-now-why-third-bostons-lab-space-vacant?utm_medium=email&utm_source=nl&utm_campaign=LS-NL-FierceBiotechResearch&oly_enc_id=0340C6801012I9E