CAMBRIDGE, MA — The Davis Companies announced that it has leased approximately 27,000 SF at its newly developed Alewife Research Center (ARC) in Cambridge, MA to Ribon Therapeutics Inc., a biotechnology company pioneering the development of new cancer medicines.
Ribon is relocating from its existing headquarters in Lexington,, MA. The fast growing company is backed by a consortium of leading venture capital firms, including The Column Group, Deerfield Management and US Ventures. Earlier this month, Japanese pharmaceutical company, Eisai Inc., leased 48,700 square feet of office and laboratory space at the ARC for its Center for Genetics Guided Dementia Discovery.
Developed by The Davis Companies, Alewife Research Center is a 224,000-square-foot Class-A LEED Silver Certified laboratory building with ground-floor retail. The transit-oriented, five-story facility is located next to Alewife Station, just minutes from both Kendall Square and Harvard Square via the Red Line and readily accessible from the MetroWest suburbs via Route 2. This convenient location also offers tenants ample parking with its 331 parking spaces, providing a ratio of 1.5 / 1,000 SF. The ARC is scheduled for completion by October 2018.
“After attracting an international pharmaceutical conglomerate such as Eisai, we are excited to now welcome Ribon Therapeutics at the Alewife Research Center,” said Brian Fallon, President of TDC Development Group. “With almost zero percent laboratory vacancy in Cambridge’s core life sciences hub, we are seeing great demand for space at the ARC. There is a clear shift of life sciences tenants moving from Kendall Square and East Cambridge more broadly to West Cambridge.”
The Alewife area is emerging as a leading life science cluster in New England, as companies pursue expansion opportunities outside the traditional Kendall Square area in East Cambridge.
“The ARC gives life science companies great access to talent, as well as the proximity and flexibility to foster collaboration with research institutes and strategic partners,” added Mr. Fallon.
Alewife Research Center provides ample space for growing companies seeking modern, new construction with an on-site parking garage and convenient amenities. The ARC features a grand lobby with a two-story atrium and gathering spaces; highly flexible laboratory and R&D space; an employee lounge; conference meeting area; a fitness workout area with showers and lockers; and a bike room with secure storage. The project will also provide abundant green space, with outdoor seating and retail vendors.
Mark Winters, Executive Managing Director of Newmark Knight Frank, the exclusive leasing agent for Alewife Research Center, represented The Davis Companies in the transaction. Eric Smith of CB Richard Ellis represented the tenant, Ribon Therapeutics.
“With high rent and almost no availability of laboratory space across much of Boston and East Cambridge, the ARC has become a greater attraction for expanding top life sciences firms as evidenced by recent leases signed by Ribon Therapeutics and Eisai,” said Winters. “This project gives tenants a new, best-in-class laboratory building in a market with little vacancy, and offers a tremendous value for bioscience companies.”