The property at 105 West First Street has been acquired by Tishman Speyer for $80 million. The approved seven-story, 250,000 square foot research and development (R&D) office building will be located on a 42,219 square foot site which is currently home to RNC Corps.

Tishman has acquired this piece of property from Ares Management and CV Properties who purchased it back in 2017 for $25 million and also received approval from the BPDA to develop this piece of land.  Not a bad flip in just two years…

Lots of development in this area – including Alexandria Real Estate Equities and Anchor Line Partners’ joint venture proposal to develop a nine-story life science building at 99 A St.

The Boston Business Journal is reporting that Tishman Speyer is launching a life science division, starting with the 105 West First Street project.  Guess there’s a need for it.