The Broad Institute came to McCall & Almy looking for a creative solution to its real estate needs. The Broad needed to expand but had a favorable long-term lease in their headquarters location. They wanted a thoughtful expansion strategy that took advantage of their existing lease and a development parcel next door. The answer came in a complex form: build up and over an adjacent parking garage owned by a developer. Through the use of a condominium ownership structure, the Broad was able to add 250,000 square feet of laboratory and administrative space to its existing location, connected by bridges at multiple levels. The transaction creates the space and collaborative connections necessary to support the Broad Institute’s core mission to bring together researchers from a variety of scientific disciplines for state-of-the-art genomic research.
The Broad Institute required a thoughtful, deliberate approach to evaluating our real estate portfolio and determining the best course of action for expansion. McCall & Almy offered us a range of solutions, and their input was invaluable in deciding to grow in Kendall Square. They have been involved every step of the way as we sought to enhance our existing location with a cost-effective, integrated solution.”