Moderna to Open Manufacturing Plant in Suburban Boston
- Sep 29, 2016
by Evelina Croitoru
Boston—A joint venture between full-service commercial real estate company Campanelli and TriGate has announced the closing of a 15-year, full-building lease with renewal options with Moderna Therapeutics in Greater Boston. The property is located at 101 Tech Drive in Norwood, Mass.
Moderna, one of the largest privately held drug developers in Massachusetts, plans to build an ultramodern, 200,000-square-foot clinical manufacturing facility that will be part of Upland, a new innovation campus.
The company plans to initially invest $110 million for the development of the facility, which will house more than 200 employees. Moderna will launch the initial build-out of the new facility in October 2016, and plans to open the drug plant by early 2018.
The leasing team was represented by leasing agents Mike Frisoli, Taryn Wilson and Mat Morgan with NGFK. Managing directors Peter Bekarian and Tom Kent, together with Vice President Don Domoretsky from JLL represented Moderna in the lease transaction.
Rendering courtesy of Campanelli