Rubius Therapeutics to anchor 75%-leased 399 Binney lab development in Kendall Square
Cancer drug specialist Rubius Therapeutics has leased 45,000 square feet at Alexandria Real Estate Equities’ new 164,000-square-foot 399 Binney Street development in Kendall Square, becoming the property’s anchor tenant. Per Alexandria, 399 Binney Street is 75%-leased, with other committed tenants including Relay Therapeutics and Celsius Therapeutics. 41,000 square feet remain for lease at 399 Binney Street, which is expected to open beginning in the fourth quarter of this year. 399 Binney Street is part of the nine-building One Kendall Square office and retail campus, and will be built to LEED Gold efficiency certifiable standards. The new-construction building also includes a 1,500-square-foot ground-floor retail space.
W. L. French completes mass excavation at 399 Binney, upcoming lab and office building in Kendall Square
W. L. French Excavating Corporation has completed the mass and footing excavations for 399 Binney Street, an upcoming 172,500-square-foot lab and office building located in Kendall Square, one of the United States’ strongest life sciences real estate markets. W. L. French has hauled and disposed of over 60,000 tons of soil, and is currently preparing and installing basement slab subbase materials. As part of W. L. French’s contract to install site utilities at 399 Binney, work has begun to connect water services to the project site. W. L. French will install water infiltration, drainage and sanitary sewer systems throughout the site in Spring 2018. 399 Binney’s excavation is supported by an internally braced support of excavation system, which was installed between May and July 2017.
Completion of 399 Binney is expected by the end of 2018. The building will be built to LEED Gold efficiency certifiable standards and will also include a 1,500-square-foot ground-floor retail space. 399 Binney is part of the existing nine-building One Kendall Square office and retail campus, which 399 Binney developer Alexandria Real Estate Equities acquired in November 2016 from DivcoWest for $725 million, or $1,124 per square foot, one of 2016’s most significant real estate sales. Space at 399 Binney is now available for lease, with demand reportedly strong; overall, the Cambridge lab real estate market has a microscopic vacancy rate below 1% per Lincoln Property Company's latest Cambridge Office & Lab Market Report. The following are photographs of work underway at 399 Binney:
W. L. French breaks ground on 399 Binney Street, new Kendall Square research and development building
W. L. French Excavating Corporation has broken ground on 399 Binney Street, an upcoming 172,500-square-foot research and development building that will expand the existing nine-building One Kendall Square office and retail campus in Kendall Square. W. L. French has successfully completed site demolition and utility relocation and is now at work excavating the building's basement level. A temporary internally-braced sheet pile cofferdam has been installed across the project site to support and retain the basement throughout excavation. 399 Binney Street's basement will be 22 feet deep; W. L. French will also operate dewatering and groundwater treatment systems on site and dispose of upwards of 65,000 tons of soil.
399 Binney Street's developer, Alexandria Real Estate Equities, acquired the 7.88-acre One Kendall Square campus in November 2016 from DivcoWest for $725 million, or $1,124 per square foot. The building will be primarily composed of office and lab space, with approximately 1,500 square feet of ground-floor retail. Expected completion of 399 Binney Street is in late Fall 2018. The following is a photograph of W. L. French at work at 399 Binney Street, courtesy Gaston Electrical: