BioMed Realty Trust, Inc. and AVEO Pharmaceuticals, Inc. signed a new 12 year lease for 126,000 s/f of laboratory and office space at 650 East Kendall St. AVEO will move its headquarters and primary research facilities to the six-story, multi-tenant research facility that is owned through BioMed Realty's joint venture with Prudential Real Estate Investors on behalf of institutional investors.
Richards Barry Joyce & Partners (RBJ) brokered the lease between the two companies. BioMed was represented by RBJ's Steven Purpura, partner, and AVEO was represented by RBJ's Jonathan Varholak, partner, and Eric Smith, senior vice president.
According to Alan Gold, BioMed's chairman and chief executive officer, "We are pleased to welcome AVEO to 650 East Kendall and Kendall Square, the ideal location for their mission-critical research and clinical development of cancer therapeutics. 650 East Kendall was built to the exacting requirements of world-class life science tenants in order to support transformational research, such as AVEO's new treatments for the medical oncology community and their patients."
The 650 East Kendall property is comprised of a 280,000 s/f research facility that is supported by six levels of below-grade parking. The building received Gold status certification by the Leadership in Energy and Environmental Design (LEED) of the U.S. Green Building Council.
AVEO is a cancer therapeutics company that recently received positive top-line results from a Phase 3 clinical study for an oral, once-daily treatment for patients with advanced renal cell carcinoma, and has two additional product candidates for the treatment of a variety of cancers.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry. The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 12.5 million rentable s/f. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, San Diego, Maryland, New York/New Jersey, Pennsylvania and Seattle, which have well-established reputations as centers for scientific research.