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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
