BioMed Leases More Space in Cambridge to Pharma Company
- Apr 07, 2015
Alnylam Pharmaceuticals has signed a 295,000-square-foot Class A office lease at 675 West Kendall in Cambridge, Mass., from BioMed Realty Trust, Inc., which will take effect once the current tenant, Vertex Pharmaceuticals, departs in May 2018.
Transwestern/RBJ represented both sides in the lease transaction.
“This lease is a win/win for Alnylam and BioMed Realty,” Jim Cullinan, BioMed Realty Trust’s vice president of marketing, told Commercial Property Executive. “Alnylam has secured Class A lab and office space in the heart of Kendall Square so they can grow and recruit knowing they have this high-quality space starting in 2018. It is a win for BioMed Realty because we have fully leased this great building to a high-quality tenant at good rents as Vertex relinquishes the building.”
The eight-story world-class laboratory and office facility contains a six-story atrium and skylight and received The Boston Society of Architects 2004 Honor Award for Design Excellence and The American Institute of Architects, California Council 2004 Design Merit Award.
Once taking ownership of its six floors, Alnylam employees will have the benefit of engaging in an amenity-rich, privately owned and operated 10-acre mixed use site that offers top-quality restaurants, kayak and canoe rentals, ice skating, outdoor concerts, and a farmers market.
“This lease reflects the high demand for high-quality space in the Cambridge market,” Cullinan concluded. “Companies are securing space years in advance because it may not be available if they wait too long.”
It’s been a busy 10 days for BioMed Realty Trust, which also signed Stanford Health Care to a 104-month, 138,000-square-foot lease at its Pacific Research Center in Newark, Calif.; signed Advanced Cell Diagnostics to an eight-year, 35,000-square-foot lease at PRC; and Biogen to a 10-year, 80,000-square-foot lease of Class A laboratory and office space at the company’s 301 Binney St. property in Cambridge, Mass.