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**New Balance Acquires Vacant Site Near Boston Landing for $35 Million**
New Balance’s property development arm has acquired a three-acre site adjacent to its Boston Landing development in Brighton for $35 million, according to the Boston Business Journal. The property, located at 155 North Beacon Street, was previously owned by IQHQ, a life sciences developer known for its ongoing projects in Cambridge’s Alewife Park and a lab facility near Fenway Park.
The site is currently vacant but is already permitted for a 409,000-square-foot life sciences building. However, it is unclear whether New Balance intends to pursue that use, especially as demand for laboratory space in the Boston area has failed to keep pace with the recent boom in new construction.
Previously, the parcel included a two-story office building and an auto body shop, both of which were demolished by IQHQ. IQHQ had envisioned a development project—dubbed “4 Life”—featuring ground-floor retail, dining options, and a central courtyard.
New Balance’s acquisition expands its presence in the area and could signal future development plans that complement its broader Boston Landing mixed-use campus.
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