$1,500,000 USDEquity Invested
North River Company (“NRC”) and Jeffrey A. Leerink (“Leerink”) have formed a joint venture partnership (“NRL”), which is under contract to acquire 28 Fitchburg Street, 14-20 Chestnut Street and 86 Joy Street in Somerville, MA. NRL is also currently negotiating to acquire the neighboring 150 Inner Belt Road (the “Development Properties”). This assemblage totals approximately 8 acres of developable land in Somerville’s Brickbottom and Inner Belt Districts. The Development Properties are directly adjacent to the new East Somerville Station that will be a part of the $2.1 billion MBTA Green Line Extension (GLX), scheduled for completion by December, 2021. NRL plans to construct a mixed-use development focused on lab office and creative office space, with supporting retail amenities. Additionally, the Development Properties are located within a federally-designated Qualified Opportunity Zone.