Shire leases 220,000 square feet at new-construction 75 | 125 Binney Street in Kendall Square

Shire, a leading rare disease-focused biotech firm headquartered in Ireland, has subleased 220,000 square feet from Ariad Pharmaceuticals at 75 | 125 Binney Street, a newly built 380,000-square lab/office building in Cambridge’s Kendall Square. Shire, Massachusetts’ second-largest life sciences employer, expects to move into the building in the first half of 2018, with fit out currently underway. The 220,000-square-foot space was vacated by Ariad, a cancer drug developer, earlier this year after Ariad was acquired by Takeda.

Completed by Alexandria Real Estate Equities in 2016, 75 | 125 Binney Street is also home to IBM, who leases 160,000 square feet. Shire’s sublease continues the trend of growth in Boston’s Life Science sector, which boasts higher investment than that of any other United States region. Per the Avison Young Q3 2017 Life Science Report, overall life sciences vacancy rates have fallen to just 2.6% and 2.5% in Cambridge and Boston, respectively. Notable life sciences transactions this year have included Synlogic taking 41,000 square feet at 301 Binney Street and Roche Diagnostics and Proteostasis Therapeutics each taking 29,000 square feet at 80 Guest Street at Boston Landing in Brighton.

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