Artist rendering of the Assembly Square site in Somerville, MA (BioMed Realty)

Bio­Med Re­al­ty snaps up in­no­va­tion cam­pus site with­in earshot of pricey and bustling Boston biotech hub

On the short list of the pre­mier biotech hubs in the world, the Boston area has trans­formed in­to a home for in­no­va­tion — and ridicu­lous­ly high rent. Now, a re­al es­tate firm is seek­ing ten­ants for a ma­jor site in neigh­bor­ing Somerville with more than enough el­bow room.

Snapped up by Bio­Med Re­al­ty, the land — which con­sists of an ex­ist­ing 162,000 square-foot of­fice build­ing and a 7.5 acre site — will serve as an “in­no­va­tion space” for a va­ri­ety of re­search, tech­nol­o­gy and life sci­ence ten­ants, the re­al es­tate com­pa­ny said in a press re­lease. Fi­nan­cial terms weren’t dis­closed.

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