Cambridge, MA The Bulfinch Companies, Inc. has signed three new leases totaling 134,816 s/f, with Arbor Biotechnologies, Kintai Therapeutics and Simcere Innovation, Inc. in Building 400-500 at Cambridge Discovery Park (CDP), Bulfinch’s life sciences development.
Currently under construction, Building 400-500 is Bulfinch’s newest addition to CDP adding 283,000 s/f of class A lab and office space to the park with a delivery of Q1 2020. These three new leases bring CDP Building 400-500 to 88% leased. Peter Bekarian, managing director at Jones Lang LaSalle, and leasing team served as the broker on behalf of Bulfinch. Evan Gallagher, senior vice president at Colliers International, and leasing team represented Arbor Biotech. Mark Winters, executive managing director, Newmark Knight Frank, and leasing team represented Kintai. Joseph Pearce, director, Newmark Knight Frank, represented Simcere.
CDP’s Building 400-500 is an LEED-Gold registered building, designed by Stantec, and located in a federally designated Economic Opportunity Zone. The six-story building was topped off in April and is set to deliver in Q1 2020, with John Moriarty & Associates, Inc. serving as general contractor. The building is designed with a connector on the third through sixth floors over the private Discovery Way Dr. with two distinct lobbies. The property includes views of the Boston skyline, including the Prudential Center, Hancock Tower and the new Four Seasons and is close proximity to Alewife T Station. In June, Bulfinch announced that FogPharma and its affiliate company, LifeMine Therapeutics, both current tenants in CDP’s Building 100, will be relocating to occupy 114,490 s/f in Building 400-500, and will have signage rights with an exclusive lobby.
Arbor will occupy 36,171 s/f of space on the fifth floor. Kintai has leased a total of 72,296 s/f on the third and fourth floors. Kintai is moving to CDP to meet its space requirements following continued momentum and growth. Simcere will occupy 26,349 s/f on the second floor.
Situated in Alewife’s life science cluster, CDP has emerged as a desirable alternative to East Cambridge’s low vacancy constraints, offering ample space for innovators in Boston’s life science hub. This lab and office campus includes 400,000 s/f in three buildings, two parking garages with space for over 1,000 vehicles, including electric car charging stations, and a 150 room AC Marriott Hotel with conference center, restaurant and bar. Future amenities at Building 400-500 will include an additional park café and a full-service yoga and fitness center. Building 400-500 will mark the completion of CDP’s construction and development.
Measuring 27 acres, CDP is one of the largest campuses in Cambridge, offering a unique natural environment surrounding Alewife Brook Reservation with a variety of walking trails and green space. While set in a natural location, CDP is easily accessible by foot or a short five-minute shuttle ride from the Alewife MBTA Red Line Station, off Rte. 2 and nine minutes from Rte. 128. Amenities at CDP include outdoor seating and dining areas, multiple bike racks, bike storage and bike sharing and ATM banking.
“We are extremely pleased to announce that Arbor, Kintai and Simcere Innovation have chosen to select CDP’s newest Building 400-500, bringing the total occupancy at the property to 88%” said Mike Wilcox, SVP, director of leasing at Bulfinch. “Multiple leases signed prior to the building’s completion demonstrates the desire for additional lab, office and R+D space outside of Kendall Square that still maintains convenient access to the MBTA’s Red Line and ‘brain train.”
Arbor, Kintai and Simcere Innovation will join other notable tenants currently leasing at CDP including Forrester Research, FogPharma, LifeMine Therapeutics, Genocea Biosciences, Inc. and The Smithsonian Astrophysical Observatory.
Harrison Street is a financial partner in the project, which has also worked closely with Bulfinch on several life science projects in the Greater Boston area. Citizens Commercial Real Estate Finance team is leading the construction loan for CDP Building 400-500 as the lead arranger and administrative agent.