BOSTON--(BUSINESS WIRE)--Joslin Diabetes Center announced today it has completed the sale of a prime development parcel at the intersection of Longwood and Brookline Avenues in the Longwood Medical Area (LMA) to a joint venture of Alexandria Real Estate Equities, Inc., National Development, and Charles River Realty Investors.
The joint venture partners plan to build an approximately 350,000 square foot life science research building on the parcel, an approximately 1.1 acre site for which development rights were approved by the BRA in 2003. Joslin will secure expansion research space in a portion of the new building, with the remainder of the building expected to be leased to other institutions and life sciences companies.
