Company Buys $330M Worth Of Property In Waltham

WALTHAM, MA – Alexandria Real Estate Equities acquired Reservoir Woods East, a trio of Waltham buildings including National Grid's U.S. headquarters, for a combined $330 million, the Boston Business Journal reports.

The California-based company began in the 1990s with the idea of providing laboratories and office space to biotech firms. The company has several properties in Kendall Square, including its 2.3 million square foot Alexandria Center, in Cambridge, where it has invested more than $2.3 billion since its first investment in the neighborhood in 2002, according to The Boston Globe.

Reservoir Woods East includes 40 Sylvan Rd, home to National Grid, and 50-60 Sylvan Rd, a former laboratory complex that’s home to Verizon Laboratories. The site also includes a 410-space parking garage, 1,319 surface parking spaces and the potential for development, according to the BBJ.

Read the rest in the Boston Business Journal: Alexandria grows in the suburbs with $330M Waltham buy

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