Cambridge, MA According to leading life science real estate developer BioMed Realty, Shire Human Genetic Therapies, Inc., a subsidiary of Shire, Plc, will become the next anchor tenant of its 500 Kendall St. building in Kendall Sq. The 12-year lease for 343,000 s/f of office space, in the global life science center of the city, is an expansion of the existing presence of the biotechnology company, which is focused on serving people with rare diseases and other highly specialized conditions. Shire is expected to move into the building by early 2019, shortly after the scheduled lease expiration with the current tenant. Transwestern brokered the lease between BioMed and Shire.
500 Kendall Street - Cambridge, MA“We’re extremely pleased that Shire is expanding its Cambridge presence with us as a continued real estate partner,” said Tim Schoen, CEO and president of BioMed Realty. “500 Kendall St. is one of our most well-known buildings, with its unmatched location in the heart of Kendall Sq., providing the ideal space and location for a leading global company like Shire to continue its growth.”
Shire also occupies 206,000 s/f at BioMed Realty’s 650 East Kendall St. building. Extending into the new space at 500 Kendall St. is the next step for Shire’s expansion of its Rare Disease Innovation Hub within Kendall Sq., as the global company increases its footprint adjacent to 650 Kendall St. Expanding into 500 Kendall St. will support the company’s longer-term growth plans in Cambridge’s thriving life science community.
“500 Kendall has been an important part of the biotech landscape since it opened in 2002. It is an architecturally and environmentally significant building, and we are thrilled to establish a home there,” said Mike Shires, head of global business services for Shire. “The proximity to our existing building at 650 Kendall provides us with a unique opportunity to create a campus setting in the heart of the Cambridge life sciences cluster.”
“Shire’s plans to continue its growth in Cambridge with our expanded partnership is another testament to the vitality of this life science real estate market,” said Bill Kane, senior vice president of east coast leasing at BioMed Realty. “We’re seeing continued robust demand for space in and around Kendall Square, Rogers Street and across Cambridge, with companies like Shire recognizing this high demand and securing space in an unmatched location with exceptional amenities where they can grow for many years to come.”
Formerly known in Kendall Sq. as Genzyme Center, 500 Kendall was conceived and designed by world-renowned architect Stefan Behnisch and built as Genzyme’s headquarters, where Genzyme has been based for the last 12 years. BioMed Realty currently owns and operates approximately 2.6 million of rentable square feet of office and lab space in Cambridge.
BioMed Realty invests in the highest quality institutional real estate to meet the needs of the growing demand across the life science industry. The company owns or has interests in properties comprising 14.3 million rentable s/f.
