Cushman & Wakefield brokers new 39,000-square-foot lease for Boylston Properties
Addgene, a global, nonprofit repository that was created to help scientists share plasmids, will relocate to 39,333 square feet of space within the LINX building at 490 Arsenal Way in Watertown, announced brokers Cushman & Wakefield and the building owner, Boylston Properties, today.
With the signing of Addgene, this marks the second life science company to relocate from Cambridge to Watertown, following C4 Therapeutics in July and the third lab space leased at LINX, bringing occupancy to 56%. Addgene’s decision to relocate to Watertown illustrates how life sciences and pharmaceutical companies are thriving outside of Kendall Square.
“With rents up and vacancies down in Cambridge, life science companies are opting for Watertown because of its location, amenities and proximity to Cambridge and Boston,” said Bill McQuillan, President of Boylston Properties. “With access to new housing, restaurants, retail and two new hotels in a walkable neighborhood, we expect more tenants will chose Watertown in 2018.”
Duncan Gratton, Executive Director, and Kate Lien, Senior Director at Cushman & Wakefield, represented Boylston Properties. Addgene was represented by John Coakley and Paul Delaney of Cresa Boston.
“With the addition of Addgene, LINX is now over half leased and we expect to be at over 90 percent leased in another 60 days,” said Gratton. “We continue to see strong demand from the life science community looking to relocate from Cambridge, and we expect that interest to remain steady.”
“Watertown is extremely attractive to many life science companies and we’re excited that our move will give Addgene the opportunity to join this fast-growing community,” said Joanne Kamens, Executive Director of Addgene. “LINX provides us with first-class laboratory and office space that allows our nonprofit to expand as needed to both grow current projects and to embark on new initiatives.”
Addgene helps researchers in more than 90 countries share scientific reagents. When scientists publish research papers, they deposit their associated materials at Addgene. Then, when other scientists read the publication, they have easy access to the resources needed to conduct future experiments.
Located at 490 Arsenal Way, LINX is a 185,000-square-foot creative office and lab building in the East End of Watertown, a neighborhood undergoing a tremendous renaissance. LINX completed construction in June 2017 and includes numerous amenities highlighted by an acre of outdoor green and recreation space, a 33-foot high lobby with a café, bike storage for 78 bicycles and a high-end shower and locker facility. LINX also offers abundant free parking and a private shuttle to Harvard Square and the MBTA Red Line, a 10-12-minute ride.
Cushman & Wakefield’s Boston office provides a complete suite of commercial real estate services for the entire lifecycle of properties and portfolios.
About Boylston Properties
Boylston Properties is a 34-year old Boston-based developer of urban mixed-use projects including retail, residential, hotel, office, and research buildings. The company draws upon urban and suburban development experience on its own or with partners in the Northeast U.S. markets, many in the Greater Boston area. Boylston Properties has recently opened the 150 room Marriott Residence Inn Boston/Watertown and is redeveloping Arsenal Yards into an exciting mixed-use neighborhood in Watertown’s East End. For more information, please go to www.boylstonproperties.com or http://www.linxwatertown.com/.
Addgene is a 501(c)3 nonprofit biorepository dedicated to facilitating scientific discoveries by operating a plasmid library for researchers. The repository contains over 60,000 plasmids contributed by 3,500 research labs around the world. Over half million plasmids have been distributed to more than 90 countries by Addgene - with 12,000 plasmids currently shipping each month. Addgene also provides ready-to-use AAV and lentivirus preparations of commonly requested plasmids as a service to scientists - saving them time and providing thorough quality control. By authenticating, storing, archiving, and distributing plasmids, virus, and their associated data, Addgene is creating a lasting resource for research and discovery scientists around the world. For more information, please visit https://www.addgene.org/ .
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.