$ARE Real Estate Equities, Inc. Announces 10-Year 253,000 RSF Full-Building Build


Alexandria Real Estate Equities, Inc. Announces 10-Year 253,000 RSF Full-Building Build-to-Suit Lease at 60 Binney Street for bluebird bio for Its New Office/Laboratory Headquarters in the Heart of Kendall Square in Cambridge, MA

Alexandria Real Estate Equities, Inc. (ARE), the largest and leading office REIT uniquely focused on collaborative science and technology campuses in urban innovation clusters, is pleased to announce that bluebird bio, Inc. (BLUE) executed a 10-year lease for approximately 253,000 rentable square feet (RSF) at 60 Binney Street at the Alexandria Center® at Kendall Square campus. The lease encompasses the entire 60 Binney Street building with the exception of a ground-floor retail suite. With the relocation of its headquarters to 60 Binney Street, bluebird bio, a clinical-stage biotechnology company committed to developing potentially transformative gene therapies for severe genetic and rare diseases and T cell-based immunotherapies, will be expanding its presence in Cambridge to support the company’s continued growth. The 60 Binney Street project, which is targeting LEED Gold Certification, is expected to be delivered in late 2016.

The Alexandria Center at Kendall Square is located in the Kendall Square innovation cluster, which is anchored by leading research institutions, including the Massachusetts Institute of Technology (MIT), the Broad Institute and Whitehead Institute; a dense concentration of biotechnology, pharmaceutical and technology companies; and a vibrant company formation ecosystem spurred by top-tier venture capital firms. The amenity-rich Alexandria campus features ground-floor retail and restaurant facilities, an approximately 33,000 square foot Cambridge Athletic Club, and an adjacent two-acre open space. The site also has convenient access to the MBTA Red and Green Lines and the EZRide Shuttle service. The 60 Binney Street headquarters location gives bluebird bio the ability to grow in one of the world’s most desirable locations for biotechnology recruitment, innovation and collaboration.

“We are honored to expand our strategic partnership with bluebird bio, one of our existing client tenants, and its great management team, as the company grows within the Alexandria Center at Kendall Square,” said Joel Marcus, chairman, chief executive and founder of Alexandria Real Estate Equities, Inc. “We share bluebird bio’s resolute commitment to pursuing its mission-critical work of discovering, developing and commercializing innovative therapies which may help treat and/or cure some of the most challenging diseases. bluebird bio’s expansion at the Alexandria Center at Kendall Square ensures its long-term growth within Kendall Square’s vibrant life science community.”

“At bluebird our sole focus is to bring potentially life-changing therapies to patients in need as quickly as possible. We are excited that our partnership with Alexandria will enable us to continue our progress toward this goal in the middle of one of the most exciting and productive hubs of life sciences innovation,” said Nick Leschly, chief bluebird.

“bluebird bio is a pioneer in gene therapy and curative treatments. We are pleased that this exciting company chose to expand its presence and relocate its corporate headquarters within the Alexandria Center at Kendall Square,” said Tom Andrews, executive vice president and regional market director of Greater Boston at Alexandria Real Estate Equities, Inc. “60 Binney Street’s location in the heart of the Kendall Square community will provide an inspirational and dynamic workplace for bluebird bio’s employees.  We look forward to continuing to serve bluebird’s facility needs as the company works to deliver breakthrough therapies for patients.”

The Alexandria Center at Kendall Square is a fully integrated urban campus featuring 2.3 million RSF of state-of-the-art office/laboratory space, high-quality amenities, and adjacent green space in the world’s leading innovation district. Alexandria is the dominant life science owner and operator in its Greater Boston cluster, with approximately 5.2 million RSF of office/laboratory space (including development projects currently under construction) serving more than 100 life science and related client tenants.

About bluebird bio, Inc.

With its lentiviral-based gene therapy and gene editing capabilities, bluebird bio has built an integrated product platform with broad potential application to severe genetic diseases and T cell-based immunotherapy. bluebird bio’s clinical programs include Lenti-D™, currently in a Phase 2/3 study, called the Starbeam Study, for the treatment of childhood cerebral adrenoleukodystrophy, and LentiGlobin®, currently in three clinical studies: a global Phase 1/2 study, called the Northstar Study, for the treatment of beta-thalassemia major; a single-center Phase 1/2 study in France (HGB-205) for the treatment of beta-thalassemia major or severe sickle cell disease; and a separate U.S. Phase 1 study for the treatment of sickle cell disease (HGB-206). bluebird bio also has ongoing preclinical CAR T immuno-oncology programs, as well as discovery research programs utilizing megaTALs/homing endonuclease gene editing technologies.

bluebird bio has operations in Cambridge, Massachusetts; Seattle, Washington; and Paris, France.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (ARE) is the largest and leading office REIT uniquely focused on collaborative science and technology campuses in urban innovation clusters, with a total market capitalization of $10.7 billion as of June 30, 2015, and an asset base of 31.1 million square feet, including 18.8 million RSF of operating properties and development projects under construction, as well as an additional 12.3 million square feet of near-term and future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in AAA locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle Park.  Alexandria is known for its high-quality and diverse client tenant base, with approximately 53% of total annualized base rent as of June 30, 2015, generated from investment-grade client tenants – a REIT industry-leading percentage. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its innovative client tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. For additional information on Alexandria, please visit www.are.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-announces-10-year-253000-rsf-full-building-build-to-suit-lease-at-60-binney-street-for-bluebird-bio-for-its-new-officelaboratory-headquarters-in-the-heart-of-kendall-square-in-cambridge-ma-300150472.html


Please enter your comment!
Please enter your name here