The Boston Business Journal is reporting that Alexandria Real Estate Equities Inc. has acquired a $43 million piece of property on Dorchester Avenue that includes F.W. Webb’s former wholesale store and showroom. The industrial supply company moved to a new location in the Newmarket area.
Alexandria Real Estate purchased 307 Dorchester Ave. from F.W. Webb last week.
According to the article, Alexandria has been selling off lots of acquired property recently, including self-storage and warehouse facilities on E Street that it had bought in 2020 to turn into life sciences buildings.
The Dot Ave and Old Colony Ave neighborhood has been the center of large developments in the past few years, including National Development with more than 1 million square feet on five acres across the intersection from the former F.W. Webb store, including 11- and 13-story life sciences buildings and 11- and 15-story residential towers. This area also features Castle Island Brewery, Shy Bird, and PKL.
Another developer, HYM Investment Group, is in the planning stages of a seven-acre development including life sciences, housing, and commercial where Castle Self Storage, a car wash, and a Dunkin Donuts currently sits.
Core Investments – behind “On The Dot” has a master plan for 11 new buildings across 21 acres on Dot Ave, which received approval for Phase 1 by the Boston Planning and Development Agency board.