WALTHAM, MA – Lincoln Property Company, one of the nation’s largest full-service commercial real estate companies, announced the finalization of the entitlements and special permitting phase for 300 Third Ave., a new life sciences building planned on Route 128, in Waltham, MA.
The project, featuring flexible and customizable office and laboratory space, is expected to be completed in 2021 and features beautiful views, prime location and state-of-the-art amenities.
“Lincoln Property Company is excited to deliver 300 Third Ave. as a best-in-class opportunity for biotechnology tenants in Waltham’s robust life science community,” said Scott Faber, Vice President of Lincoln Property Company. “The City of Waltham has been a supportive partner as we work to develop unparalleled facilities for growing biotech companies in the Commonwealth.”
Currently home to an underutilized circa 1960s office building, the introduction of 300 Third Ave. is in direct response to Massachusetts’ emerging biotech community. In being named the No. 1 biotech hub in the United States, Greater Boston is experiencing a lack of vacancy especially in Cambridge and Boston Proper, with 1% and 3% available space respectively.
With decades of expertise in life sciences DiMella Shaffer, a Boston-based architecture and design firm, and AHA Consulting Engineers, a Cambridge-based MEP/FP engineering practice, are designing a flexible space with a high level of efficiency of the mechanical, chemical storage and utility areas to service the most rigorous laboratory occupants.
“Our experience in life sciences started back in the 1980s with the genesis of the Kendall Square biotech hub and our design of the Biogen facility,” said Randy Kreie, Principal and President of DiMella Shaffer. “We continue to be excited by the growth in the industry in Greater Boston and we’re honored to work with Lincoln Property Company, especially on such a special and iconic project.”
300 Third Ave. will feature four stories of parking and four stories of laboratory space with a spacious penthouse for robust mechanicals. The building will have 35,000 square feet of rentable space per floor, with 400+ on-site parking spaces. With an unmatched highway presence and sweeping views, 300 Third Ave. is set to be the most iconic lab building to deliver in the market this cycle.
To learn more about leasing the property for your life sciences company, contact exclusive brokers Jeff Moore ([email protected]) or Chris Devaux ([email protected]). For a virtual tour look at the development, visit 300ThirdAve.com.
