Joe Flaherty and Tucker Hansen of Meredith & Grewrepresented property owner Forest City Enterprises. Greg Larsen andSteve James of NAI Hunneman represented Gene Logic. Lease rates forthis deal were not available, but the average asking rent for labspace in the area is about $36 per sf.
The Clark Building, located at 38 Sidney St., is a five-story,122,000-sf biotech site located within University Park at MIT. Thepark is a campus environment consisting of 2.3 million sf locateddirectly adjacent to MIT. With this deal, the Park is now 100%leased. Among its major tenants are Millennium Pharmaceuticals,Alkermes, Genzyme, Partners HealthCare, ARIAD Pharmaceuticals andAcambis.
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