With many state-of-the-art, brand-new research facilities sitting empty across major research clusters in the U.S., established pharmaceutical and biotechnology firms have an opportunity to secure ideal spaces in prime locations.
In March, BioGen announced that it has signed a 15-year lease for a soon-to-be-completed research facility at Kendall Common in prestigious East Cambridge. Their new space will cover 580,000 square feet, and BioGen plans to take occupancy in 2028. This move allows BioGen to consolidate its Massachusetts locations into one modern facility.
Image Courtesy of www.kendallcommon.com
Last year, Pfizer signed a 15-year lease at Torrey View, a newly completed research facility developed by Breakthrough Properties. They consolidated from a multi-building location not too far away into the new location. Their vacated compound was purchased in April by BioMed.
Image Courtesy of www.btprop.com/portfolio/torrey-view-by-breakthrough
Intellia Therapeutics signed a lease in February to take on 100K square feet in Cambridge which will consolidate locations across the metro. Like many other firms, Intellia has had to downsize it’s workforce so this will present an opportunity to reorganize initiatives in this new location.
Image Courtesy of www.bostonrealestatetimes.com
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