Richards Barry Joyce & Partners (RBJ) has brokered the sale of 121 Brookline Ave. on behalf of 121 Brookline Ave., LLC. The site was purchased by Boylston Properties Co., Inc. for $8.7 million.
121 Brookline Ave. will become the site of the Longwood Research Center (LRC), a proposed six-story, 130,000 s/f laboratory building. Longwood Research Center is next to the Longwood Medical area.
"This was an excellent investment for Boylston Properties," said William McQuillan, president of Boylston Props.
LRC is pre-certified LEED compliant, a designation by the U.S. Green Building Council to denote a building's adherence to environmentally sustainable construction. The project is approved by the BRA and ground breaking is expected during the summer. Upon making the building purchase, Boylston Props. hired RBJ as the exclusive leasing agent for the property.
"We anticipated a high level of interest in the location during the sales process, due to its proximity to the Longwood Medical Area," said Paul Mattes, managing partner, 121 Brookline Ave., LLC.
Robert Richards, president of RBJ, represented the building seller and procured the buyer. Richards and Chris McCauley, VP, will lead the RBJ team assigned to the leasing project.
"121 Brookline Ave. is located near one of the country's leading centers of biomedical and biotechnology activity, Longwood Medical Area," said Richards. "We have already received a very high level of interest in the building, from tenants varying in size from single occupants to multi-tenant occupants."