Alexandria to Build $155M Life Science Campus in Boston

Alexandria Real Estate Equities Inc. is set to establish a massive campus on Dorchester Avenue in South Boston, covering more than 1 million square feet, according to a report by the Boston Business Journal.

Development and Investment

The developer has invested $155.3 million in joint ventures to acquire various parcels along Dorchester Ave., including 285, 299, 307, and 345 Dorchester Ave. These parcels currently host low-rise industrial buildings. While Alexandria holds a 60% stake in the joint venture, its partner remains undisclosed.

Previous Ownership and Projects

Before Alexandria's involvement, the parcels belonged to affiliates of National Development. Notably, 345 Dot Ave. was part of the Iron Works mixed-use project, approved by National Development in 2021. The Iron Works project features plans for 11- and 13-story life sciences buildings and 11- and 15-story residential towers, although construction has yet to begin.

Market Positioning

Alexandria categorizes the Dorchester Avenue parcels as part of its "Seaport Innovation District submarket." This positioning underscores the company's strategic focus on innovation and reflects its broader vision for the area.

Recent Transactions

In addition to its upcoming mega-campus project, Alexandria has recently divested from two industrial buildings on E Street and a collection of parcels along A Street in South Boston. These transactions suggest a deliberate reshaping of Alexandria's portfolio in line with its evolving strategic priorities.