Building 400/500 at Cambridge Discovery Park Update 09/10/19
Three New Leases Signed at Cambridge Discovery Park
The Bulfinch Companies has announced it has signed three new leases with Arbor Biotechnologies, Kintai Therapeutics and Simcere Innovation, Inc. in Building 400‐500 at Cambridge Discovery Park (CDP), Bulfinch’s life sciences development in Cambridge, Massachusetts.
Currently under construction, Building 400‐500 is Bulfinch’s newest addition to CDP adding 283,000 SF of Class A lab and office space to the park with delivery of Q1 2020. These three new leases bring CDP Building 400‐500 to 88% leased with only 32,215 SF remaining available on the top sixth floor. 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 Biotechnologies, Mark Winters, Executive Managing Director, Newmark Knight Frank, and leasing team represented Kintai Therapeutics and Joseph Pearce, Director, Newmark Knight Frank, represented Simcere Innovation, Inc.
CDP’s Building 400‐500 is a state‐of‐the‐art, 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 2019 and is set to deliver in Q1 2020, with John Moriarty & Associates serving as General Contractor. The building is designed with a connector on the third through sixth floors over the private Discovery Way Drive with two distinct lobbies. The property includes unobstructed views of the Boston Skyline, including the Prudential Center, Hancock Tower and the new Four Seasons and 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 SF in Building 400‐500, and will have signage rights with an exclusive lobby.
Arbor Biotechnologies will occupy 36,171 SF of space on the fifth floor in Building 400‐500. Arbor is an early‐stage company pushing the boundaries of biodiscovery by unlocking nature’s genetic diversity to create transformative products in human health and sustainability. Arbor’s proprietary platform integrates a computational search engine with high‐throughput experimental capabilities to enable both rapid protein characterization and product generation. Arbor was recently selected for MIT’s STEX25, a startup exchange featuring cutting‐edge industry‐ready startups that are poised for significant growth. This new, state‐of‐the‐art space in Building 500 will help support the company’s growth.
Kintai Therapeutics has leased a total of 72,296 SF on the third and fourth floors of Building 400‐500. Kintai was founded in 2016 by Flagship Labs, the innovation foundry of Flagship Pioneering. The company’s Precision Enteric MedicineTM (PEMTM) discovery and therapeutic platform is based on a deep understanding of the interconnected biology of the microbiome, gut immune system, and enteric nervous system. Kintai has pioneered a new frontier in gut science, resulting in a unique understanding of a wealth of new genes, metabolites, and signaling molecules, leveraging these insights to rapidly translate into a highly actionable pipeline. Kintai has a portfolio of more than ten programs focused on multiple therapeutic areas, including oncology, neurology, and immunology. Kintai is moving to CDP to meet its space requirements following continued momentum and growth.
“Kintai is developing pioneering therapeutics based on our unique understanding of the body’s enteric signaling network,” said Paul Peter Tak, M.D., Ph.D., president and chief executive officer of Kintai. “The company has been successful in utilizing a multidisciplinary approach to analyze and generate large integrated datasets and start multiple disease programs. We are pleased to have found the high‐class facilities required to accommodate the growth of the company and support the work we are doing to advance new treatments for patients in need.”
Simcere Innovation, Inc will occupy 26,349 SF on the second floor of Building 400‐500. Simcere Innovation is focusing on the research and development of life‐changing therapies to our patients using cutting‐edge technology, such as cell and gene therapies. The company is providing a very innovative model – “internal entrepreneurship” – to combine the research and development with open innovation and partnerships in an effective and creative way. Simcere Innovation is a company of Simcere Pharmaceutic Group, which is a China’s leading R&D‐driven pharmaceutical company and has been nationally ranked in China for a number of years. Simcere Innovation, which will serve as the company’s first US location and national headquarters, has collaborated with top companies, including Amgen and Bristol‐Myers Squibb, etc.
“Open innovation is Simcere’s core strategy. In 2013, Simcere established the BioSciKin innovation model and participated in multiple venture capital funds globally,” said Shawn Xu, Ph.D., Founder of Simcere Innovation Inc. “Cambridge is a global hub of life science and continues to be one of the most innovative cities on the planet. Simcere Innovation is aiming to leverage CDP’s global innovation resources to help accelerate our journey in making better medicine available to patients sooner.”
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 in Cambridge includes 400,000 square feet 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, directly off Route 2 and nine minutes from Route 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.