BOSTON–JLL and King Street Properties, the largest private owner/operator of life science real estate in Greater Boston, announced that they have finalized leasing commitments with four firms to occupy 100% of King Street Properties’ new life sciences facility being developed at 75 Hayden Avenue in Lexington, MA.
Construction of the new 214,440 sq. ft., four-story Class A laboratory and R&D center began in 2018. Weeks away from delivery, the new facility will anchor the four-building Hayden Research Campus, which is the epicenter of Greater Boston’s core suburban life science cluster located directly off Route 2 and Route 95/128. Hayden Research Campus is owned in a joint venture between King Street Properties and Healthpeak Properties, a leading healthcare REIT.
“King Street Properties and our partners at Healthpeak are delighted that these firms have decided to join the community of leading life science organizations who call the Hayden Research Campus home,” said Michael DiMinico, King Street Properties Executive Director. “The new facilities at 75 Hayden Avenue will provide each firm with robust lab infrastructure, a wealth of tenant amenities and ease of access both to and from Cambridge, Boston and the core suburban markets. We are excited to welcome Frequency, Voyager, and Integral Health into the King Street portfolio and continue our great relationship with Dicerna Pharmaceuticals.”
“Expanding to 75 Hayden Avenue provides us with the opportunity to grow in a first-class campus environment,” said Jim Weissman, Chief Operating Officer and Executive Vice President of Dicerna Pharmaceuticals, Inc. “In close proximity to our existing office and lab space, 75 Hayden provides the added infrastructure to support our growing business, facilitates the collaborative work culture that has become a hallmark of Dicerna, and allows us to continue the long-term, productive relationship with King Street.”
The new 75 Hayden building is the cornerstone of the Hayden Research Campus, a leading center for science and research on 37 acres located at the junction of Routes 2 and I-95/Route 128 in Lexington. Lexington is part of the Massachusetts “Super Cluster,” which has become the headquarters of dozens of drug development companies that have created thousands of biotech and pharmaceutical jobs over the past decade. The campus features a wealth of tenant amenities, including a full-service cafeteria, a separate full-service café, outdoor seating areas and fire pit, a fully equipped fitness center with lockers and showers, indoor bike storage, and abundant surface parking in addition to two covered parking garages.
JLL Managing Directors Ben Coffin, Don Domoretsky and Tucker Hansen represented building owners King Street Properties and Healthpeak Properties in the transactions with each of the firms.
T3 Advisors CEO Roy Hirshland and Senior Principal Jeremy Hood represented Dicerna Pharmaceuticals in the 91,728 square foot lease; Frequency Therapeutics was represented by Colliers International Executive Vice Presidents Greg Klemmer and Evan Gallagher in its 61,307 square foot lease; Voyager Therapeutics was represented by CBRE Vice Chairman Jon Varholak and Executive Vice President Eric Smith in the 32,152 square foot lease; and Integral Health was represented by CBRE First Vice President Alex Plaistead and Vice Chairman Greg Lucas in its 29,623 square foot lease.