Boston — Newmark Knight Frank announced that NKF Executive Managing Directors Richard Ruggiero and Mark Winters recently represented Replimune Group, Inc., a Nasdaq-listed biotechnology company developing oncolytic immunotherapies, in leasing 63,278 square feet from King Street Properties at 33 New York Avenue in Framingham, MA.
Replimune will build-out the space to serve as a new, state-of-the-art office/lab/pharma manufacturing space.
Founded in 2015, Replimune is headquartered in Woburn, MA. Replimune recently raised more than $100 million in its IPO of common stock. Due to the firm’s recent growth, Replimune selected NKF to assist with site selection analysis for a pharma manufacturing location.
Once construction and validation are complete, the new full-service GMP facility in Framingham will be used to produce Replimune’s product candidates and ultimately support product launch, pending successful completion of clinical studies and regulatory review. Replimune will take occupancy of the new space once the initial shell build-out is completed in Q3 2019.
“We are pleased to have assisted Replimune is this transaction, allowing Replimune to locate a state of the art facility to accommodate its expanding business needs,” said Ruggiero. “33 New York Avenue was the perfect fit for our client, due to its centralized location, planned renovation, and ownership’s depth of life science experience.”
King Street Properties, an owner/operator of life science real estate in greater Boson, acquired 33 New York Avenue in February 2018. The single-story building had been vacant since December 2017, when Metro West Daily News relocated its offices. King Street Properties is renovating the property and expanding it with a 9,000-square-foot addition, bringing the total square footage to 107,350. In addition, the firm plans to create new pedestrian walkways, make parking improvements, and add new landscaping.
NKF represented Replimune in the lease negotiations and Kevin Hanna and Paul Leone of Cushman & Wakefield represented the landlord, King Street Partners, in the transaction.