CAMBRIDGE, MA–Agios Pharmaceuticals, Inc., a leader in the field of cellular metabolism to treat cancer and rare genetic diseases, has leased 13,000 square feet of office space at 38 Sidney Street in Cambridge, MA, according to officials papers filed with SEC.
The leased commenced on May 1, 2019 and will expire on February 29, 2028. At the end of the lease term, the company has the option to extend the 38 Sidney Lease for two consecutive terms of five years at fair market rent at the time of the extension.
“The 38 Sidney Lease provides us with the right to lease additional space within the 38 Sidney Street building and also includes rent escalation clauses and a tenant improvement allowance of $1.0 million,” according to official papers.
The company said that in connection with the 38 Sidney Lease, Agios also amended its existing building leases at 88 Sidney Street and at 64 Sidney Street in Cambridge to extend the initial terms of those leases by approximately three years through February 29, 2028.
“The amendments also provide us with the right to lease additional space at the 64 Sidney Street building. Our existing extension options for the 88 Sidney Street building and 64 Sidney Street building will continue as set forth in the existing leases for those buildings,” according to official papers filed.