Boston Life-Science Project Secures Full-Building Tenant
Breakthough Properties has executed a 263,500-square-foot lease for its laboratory development, which is slated for completion in early 2022.
BOSTON – Life science real estate development company, Breakthrough Properties has executed a full-building lease for its currently under-construction, seven-story laboratory development in Boston’s Seaport neighborhood.
The 263,500-square-foot lease agreement was signed by the gene-editing company, CRISPR Therapeutics.
Breakthrough Properties acquired the development site, located at 105 W. First St., one year ago in July 2019, shortly following the company’s launch by Tishman Speyer and Bellco Capital.
Breakthrough Properties has been working closely with Tishman Speyer’s Boston team for the laboratory development, referred to as The 105. The company broke ground on the development four months ago, with a slated completion date in early 2022.
Designed by the Payette architecture firm as a best-in-class laboratory building seeking LEED Gold and Fitwel certifications, The 105 will feature tailored amenities for life-science tenant including a fitness facility and outdoor terraces. The property is additionally located near the red line’s Broadway Station.
Within the space, CRISPR will continue its work in developing transformative gene-based medicines for serious diseases. The tenant company is a wholly-owned, US subsidiary of Switzerland-based, CRIPSR Therapeutics AG, which has a portfolio of therapeutic programs across a range of disease areas. The company’s R&D operations are based in Cambridge, MA.
“Our mission at Breakthrough is to deliver cutting edge facilities and environments that support companies at the forefront of life-changing science,” states Breakthrough Properties CEO, Dan Belldegrun. “We are thrilled to partner with CRISPR, one of the world’s emerging leaders in the biotech industry, as it continues to develop therapies that change the way we fight disease. There has never been a more important time to focus on the scientific innovation and we’re honored to play a small but supportive role in CRISPR’s exciting future.”
For the lease transaction, Breakthough Properties was represented by Newmark Knight Frank, while Cushman & Wakefield represented CRISPR.
