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| Rendering of planned 101 South Street development in Boynton Yards area of Somerville, MA |
BOSTON, MA – JLL announced it has arranged $140 million in financing for 101 South Street, a 289,000-square-foot, Class A office and lab development in the Boynton Yards area of Somerville, Massachusetts.
The project is under construction and will represent the largest state-of-the-art lab development in Somerville’s growing life science market.
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| Jennifer Keller |
JLL worked on behalf of the borrower, a joint venture between DLJ Real Estate Capital Partners and Leggat McCall Properties, to secure first mortgage construction financing through Bank OZK.
Located one mile from Kendall Square/MIT, the epicenter of the biotech/life science industry, 101 South Street will consist of nine stories of life science space and approximately 13,500 square feet of ground floor retail.
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| Brett Paulsrud |
The building is scheduled to deliver simultaneously with the planned 2021 opening of the new MBTA Green Line station at Union Square, which is less than a five-minute walk from the project and provides direct access to downtown Boston.
101 South Street is the first phase of the borrower’s planned mixed-use development for the Union Square/Boynton Yards area of Somerville.
Contact:
Kristen Murphy,
JLL Director, Public Relations
Phone: +617 848 1572
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