Davis Cos. & Invesco Unveil 2nd Phase of Life Science Campus in Cambridge, MA

The Davis Cos. and Invesco Real Estate have completed 101 Smith Place, a 161,616-square-foot Class A life science and laboratory building in Cambridge, Massachusetts. This building represents the second phase of The Quad, a 554,019-square-foot campus.

Project Financing and Construction

Wells Fargo Bank provided $118.8 million in construction financing for the project in 2021, with the note maturing in December 2023. The general contractor was Erland Construction, and design services were provided by Jacobs. AHA Consulting Engineers and McNamara/Salvia served as building and structural engineers. The development team also included Haley & Aldrich, BSC Group, and Vanasse Hangen Brustlin. Erland demolished two buildings and a metal garage to make way for 101 Smith Place, with construction beginning in 2021 and topping out in 2023.

Future Developments

In spring 2025, Davis plans to start construction on the third and final phase of The Quad—15 Wilson Road, a 280,000-square-foot life science project.

Building Features

The three-story 101 Smith Place features 60,000-square-foot floorplates with a live load capacity of 100 pounds per square foot. The column bay spacing is 21 feet on center, and the floor-to-floor heights range from 15 to 18 feet. Key features include a PH neutralization room, two elevated loading docks, covered bays, a freight elevator with a 5,000-pound capacity, and a 16,821-square-foot mechanical penthouse with a central chiller and hot water plant.

Sustainability and Amenities

101 Smith Place has achieved LEED Gold, WiredScore Gold, and Fitwel certifications. It incorporates sustainable furniture, EV charging stations, MERV 14 filters, and green cleaning policies. Amenities include a gym, lounge areas, green spaces, bike parking, and 154 vehicle-parking spaces.

Tenant Lease

Samsung SDI, a subsidiary of Samsung Electronics, signed a 10-year lease for a 13,604-square-foot purpose-built space on the building's third floor, with completion expected in December. CBRE represented the landlord in the lease negotiations, while Montivista Real Estate Investment represented the tenant.

Location and Accessibility

The facility is located about 1 mile from downtown Cambridge and 10 miles southeast of Boston’s city center, with easy access to Interstate 95 and Massachusetts Route 2. It is also close to several bus stops, retail options, and quick-service restaurants.

Boston's Office Market

As of May, Boston's office supply pipeline included over 13.6 million square feet of under-construction space, leading the nation. The city's office vacancy rate was 12.1 percent, lower than the national average of 17.8 percent, despite a year-over-year increase. Boston also saw the highest year-over-year growth in average asking office rent at 10.8 percent. Recent developments include US2’s 10 Prospect St. and Andover Technology Park’s first phase, developed by Celera Properties and True North Management Group.