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Case Study

670 Albany Street @ BioSquare: Blending research and education at a world-class sustainable facility

Services provided: Agency leasing, construction, investment management, project and development services, property management

To maintain the cutting-edge of research and sustainable design, Boston University and Boston Medical Center (BU/BMC) turned to JLL. In partnership with BU/BMC, our team developed a state-of-the-art, 175,000-square-foot, LEED Silver certified laboratory and research facility in Boston’s South End medical area. Seeking to leverage our full capabilities, BU/BMC retained our firm to provide construction, investment development, leasing and property management services. Our deep involvement with the project allowed our team to get involved at its conception, minimizing risk and controlling costs.

JLL provided the full spectrum of real estate services to meet the University’s objectives for the project, including equity and debt placement, development, and construction. As the "at risk" developer of this building, JLL invested in the facility and raised additional debt and equity financing from third parties. Providing "at risk" construction services, we also provided preconstruction consultation, cost estimating, and overall construction management.

The project broke ground in April of 2004, and the building was successfully completed in the fall of 2005. Paving the way for sustainability in New England, the laboratory would be the first LEED Core & Shell certified building New England.

Our success throughout the development and construction phases led the University to retain JLL as the exclusive onsite property manager and exclusive agent for the 1.3 million-square-foot BioSquare complex. The result is a state-of-the-art laboratory and research facility at Boston's preeminent biomedical research and business address.

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