MEDFORD, MA — Gibson Sotheby’s International Realty announced the offering of a 1.3-acre transit-oriented parcel located on Boston Avenue in Medford as an advantageous opportunity for R&D, life science and biotech developers.
Located ½ mile from the Tufts University campus, Tufts Corner is a 250,000 square-foot Class A project with by-right entitlements, offering premier access to both I-95 and I-93 freeways and proximity to many restaurants and retail services in Boston, Cambridge, Medford and Somerville.
Located along the MBTA Green Line Extension, the site qualifies as a “high-frequency transit location.”
“The City of Medford is very much committed to seeing a commercial development on the Boston Avenue site, specifically for life science and biotech,” added Alicia Hunt, Director of Planning, Development & Sustainability for the City of Medford. “The City Staff and City Council worked collaboratively to rezone the district to allow for density required by modern lab development. We are excited to welcome new investment to Medford.”
“The Medford Chamber of Commerce is excited by the prospect of a development being constructed in the O-2 district on Boston Avenue and the resulting economic benefits that would be realized by the Medford business and residential communities,” said Maury Carroll, President of the Medford Chamber of Commerce.
“Medford’s thriving innovation clusters make it an ideal hub for life science and tech firms, and the neighboring universities provide a rich local talent pool for companies seeking to scale up or relocate their operations,” said Ken Leva, President of The Leva Group at Gibson Sotheby’s International Realty who represents the sale of the project. “Opportunities such as this are smart investments that provide above market returns.”
Interested parties can learn more at tuftscorner.com.
