Subleases Fill 35,395 SF at Cambridge Laboratory

CAMBRIDGE, MA-A biopharmaceutical firm and a local hospital have subleased a total of 35,395 sf at 840 Memorial Dr. here, filling a void created when UCB Research relocated its 52,000 sf laboratory to the UK three years ago. Beth Israel Deaconess Medical Center, a teaching affiliate of Harvard Medical School, will take 25,263 sf, expanding its facilities from the Longwood Medical Area to the entire first floor of the building. A second tenant, Alantos Pharmaceuticals, will expand and relocate its headquarters to 10,132 sf in a portion of the 130,000 sf laboratory building’s second floor. The building is owned by the Abbey Group.

Mark Winters, executive director with Cushman & Wakefield’s Boston office, tells GlobeSt.com that both tenants were in the market for lab space in the Cambridge area, which has become the epicenter of the area’s biotech industry, and opted to sign four-year leases. Terms of those leases were not disclosed, but Winters says lab space in the area generally rents in the mid $20 per-sf to the mid $40 per-sf price range.

Winters, along with David Townsend, director, and Juliette Reiter, associate director, also with Cushman & Wakefield, represented UCB Research in the lease negotiations. Beth Israel Deaconess Medical Center was represented by Mary Lentz, executive vice president, and Neil Schneider, senior vice president, of McCall & Almy. Tucker Hansen, assistant vice president of Meredith & Grew, handled the transaction for Alantos Pharmaceuticals.