Alexandria Real Estate Equities to Sell Fenway Life Science Property at 421 Park Drive in Boston
Alexandria Real Estate Equities is selling its 339,668-square-foot development property at 421 Park Drive in Boston's Fenway neighborhood to an institutional buyer. The transaction, expected to close in Q4 2026, will generate significant proceeds and reduce future construction spending by approximately $136 million. This disposition is part of Alexandria's strategy to reassess its development pipeline and manage capital requirements amidst changing market conditions.
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