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Tenants Forward Leasing as Hedge Against Strong Market

BOSTON—The Dana-Farber Cancer Institute has extended its lease at BioMed Realty Trust's Center for Life Science, GlobeSt.com has learned in this EXCLUSIVEstory.

By John Jordan | Updated on November 30, 2015

BOSTON—In another example of a tenant renewing or extending its tenancy well in advance of lease expiration to secure its office space in a very tight and strong market, the Dana-Farber Cancer Institute has extended its 50,716-square-foot lease, GlobeSt.com has learned EXCLUSIVELY. The medical tenant has agreed to remain at BioMed Realty Trust‘s Center for Life Science for another decade.

BioMed Realty officials note that the institute’s lease for the space did not expire until March 31, 2018. With the renewal and extension, Dana-Farber will continue to occupy a little more than 200,000 square feet at the 704,000-square-foot building. The property, built in 2008, is fully leased. The property’s other tenants include: the Children’s Hospital of Boston, Beth Israel Deaconess Medical Center, Pfizer, the Wyss Institute for Biologically Inspired Engineering at Harvard and Kowa Co.

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