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Lab Market Tightens With Two New Leases

BOSTON-MytoGen Inc. and Idera Pharmaceuticals both found space in a lab market that has a vacancy rate of less than 10%.

By Beverly Ford | Updated on January 24, 2007

BOSTON-Two biotech companies looking for space in the area’s tight lab market found it in Alexandria Properties’ portfolio. MytoGen Inc. and Idera Pharmaceuticals each signed lease deals for lab and office space, gaining locations at a time when lab vacancy rates have dropped below 10% in Cambridge and Boston.

MytoGen, a privately held biotech company involved in the development of cell-therapy products, took 24,940 sf at 79 – 96 Thirteenth St. in the Charlestown Navy Yard under a deal that significantly expands its presence at that location. The company previously subleased space in the facility.

Idera Pharmaceuticals, which develops therapeutics that modulate immune responses, took 26,589 sf at 167 Sydney St. in Cambridge. The deal gives the biotech firm a more efficient floor plan in a newly renovated and upgraded property.

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