Joe Flaherty, John Butterworth and Tucker Hansen of Meredith & Grew represented Transkaryotic, while Ed Fothergill of Cresa Partners represented Altus. Altus plans to modify the space from its current biotech/research/lab use to manufacturing. The company currently has locations at 125 Sidney St. and 625 Putnam Ave. This new location will to accommodate the company's growth.
The 48,000-sf 195 Albany St., which is Transkaryotic Therapies's former headquarters, is three-story, biotech/research facility located directly adjacent to the MIT campus. Transkaryotic is currently headquartered at 700 Main St.
Lease rates for this deal were not available, but the average asking rent for lab space in the area is at approximately $35 per sf. Sublease deals tend to command a lower than average rate.
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