Skanska Lands $95M In Lab Sale To REIT

Law360, New York (December 3, 2013, 3:05 PM EST) -- The U.S. unit of Swedish construction company Skanska AB said Tuesday that it is selling for $95 million its lab and office property at 150 Second St. in Cambridge, Mass., located in the biotechnology and life sciences hub of Cambridge’s Kendall Square, to Alexandria Real Estate Equities Inc.

The acquisition of 150 Second Street, a three-story, 123,000-square-foot, class A complex, bolsters a Boston portfolio that already consists of seven other commercial properties, with 3.8 million square feet of rentable space in the biotechnology and life sciences...
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