Boston — CBRE announced the completion of a 78,000 sq. ft. lab space lease at GenLabs, a premier life sciences property located at 3 Van de Graaff Drive in Burlington, MA.
Fractyl Health, an organ editing metabolic therapeutics company pioneering a new approach to the treatment of type 2 diabetes, has committed to part of the second and entire third floors of the complex and will relocate its operations from 17 Hartwell Avenue in Lexington, MA where it occupies 30,000 sq. ft. of space.
Fractyl Health anticipates it will occupy the Burlington space in Q4 2023. The CBRE team of Alex Plaisted, Ryan Romano and Tom Hovey spearhead the leasing campaign at the property and negotiated the lease transaction on behalf of the ownership, Jumbo Capital and Apollo Global Management. “GenLabs offered Fractyl Health the unparalleled opportunity to house its operations in one of Burlington’s premier properties at the epicenter of the area’s next life sciences hub,” said Mr. Plaisted. “We’re pleased to have a major life sciences company like Fractyl Health as one of our project’s anchor tenants. In addition, the newly built lab space is ideally located, offering easy access to the Boston and Cambridge markets.” “This lease kicks off our lab conversion project in a big way,” said Nick Trocki, Vice President at Jumbo Capital. “The ongoing core and shell lab conversion will provide lab ready infrastructure for Fractyl Health and other life science tenants to flourish and grow. We are excited to bring this space to life and see Fractyl Health succeed.”“Partnering with GenLabs has afforded us the opportunity to build out our headquarters and expand our operations in Massachusetts,” said Harith Rajagopalan MD PhD, Co-Founder and CEO of Fractyl Health. “As a life science company developing novel devices and therapies to treat type 2 diabetes, we believe our new facility in Burlington, MA, will help fuel the next phase of our growth.”Totaling 320,000 sq. ft., GenLabs is currently being renovated into a Class A, state-of-the-art lab building. The property boasts 16’+ ceilings, private terraces, a private landscaped courtyard, gym, and cafeteria, among other features attractive to life sciences tenants.GenLabs is just a five-minute walk to Wayside Commons and 1.5 miles from the Burlington Mall and the 3rd Ave./Middlesex Turnpike – offering a wide variety of restaurants, retail, service and lifestyle options. The property is 0.5 miles from the Interstate 95/Route 3 interchange, centrally located between Interstate 93 (4.6 miles) and Route 2 (5.3 miles), six miles from Woburn’s Anderson Regional Transportation Center, and has direct MBTA bus access from Van de Graaff Drive to Boston and Cambridge, offering seamless transportation options. Austin Barrett at T3 Advisors represented Fractyl Health in the lease negotiations.
