The $125m deal is the latest sign that life sciences continue to thrive in the Boston area despite the down economy.
Another big piece of real estate near the Alewife Red Line station is trading hands. Expect more lab space to soon follow.
Life sciences developer IQHQ is buying the headquarters of GCP Applied Technologies in North Cambridge, for $125 million. The two companies said Wednesday that they reached an agreement last week, and expect the deal to close by early August.
The 26-acre campus is the latest major parcel to trade hands in and around Alewife. The once light-industrial area is rapidly transforming into a hub for labs and housing. It’s one of several areas around the region that are drawing tech and life science companies looking for cheaper or roomier alternatives to Kendall Square.
Read more via The Boston Globe >>