An affiliate of California investment firm, Alexandria Real Estate Equities, Inc., purchased a 35-acre plot of land at 29 Research Drive in Westborough, two months after buying the neighboring former BJ’s Wholesale Club headquarters. The purchases clear the way for the development of a four-building, 715,000-square-foot life science campus.
The seller of 29 Research Drive was Triboro Real Estate, LLC of Upton, an affiliate of Triboro Crane and Rigging Services, which operates at 29 Research Drive. The sale price was $13.25 million, according to the Worcester District Registry of Deeds.
Triboro purchased the property in 2019 for $2.75 million, according to the Worcester District Registry of Deeds. The property is assessed by the Town of Westborough for $3.3 million
The $13.25-million sale comes after Westborough Research Investments, LLC, also affiliated with Alexandria, purchased the former BJ’s headquarters at 25 Research Drive in January for $32 million.
In 2022, Boston developer Samuels & Associates proposed demolishing the buildings at 25 and 29 Research Drive to build four buildings totaling 715,000 square feet as a life sciences, office, and manufacturing campus. The proposal was approved in September, which was first reported by the Community Advocate.
Neither Samuels & Associates nor Alexandria provided a timeline for when construction would begin or the development would open.
Alexandria Real Estate Equities is a publicly traded company and owns more than 14 million square feet of rentable space in the Greater Boston market, as of Dec. 31, according to a filing with the U.S. Securities and Exchange Commission Those property holdings include campuses like Alexandria Center at Kendall Square, and Alexandria Technology Square in Cambridge, and The Arsenal on the Charles in Watertown.
Samuels & Associates has developed mixed-use projects including lab space at 1249, 1255, and 1325 Boylston St. in Boston, and at the Hingham Shipyard.
