100 Binney St. Cambridge. Image courtesy of Elkus Manfredi Arcitects
Where: Cambridge
What: 100 Binney St.
Owner: Alexandria Real Estate Equities
Built: 2015-2017
Why It’s Hot:
- Facebook and four venture-backed life science companies have signed leases at 100 Binney St., bringing the office and lab building to full occupancy when it opens in late 2017.
- The social media giant leased three floors totaling 130,000 square feet at the 431,000-square-foot complex. Foghorn Therapeutics, Sigilon Therapeutics, Tango Therapeutics and TCR2 Therapeutics will relocate from within Cambridge to a combined 90,000 square feet. Bristol-Myers Squibb signed on as anchor tenant in 2015 for 208,000 square feet.
- Alexandria is pre-leasing 399 Binney St., its new 164,000-square-foot Class A office/laboratory building at the Alexandria Center® at One Kendall Square. Alexandria acquired the nine-building, 645,000-square-foot life science and technology campus in November 2016 for $725 million.Alexandria owns and operates 6.3 million square feet of commercial space in Greater Boston, including 5 million square feet in Cambridge. The portfolio was 96 percent leased as of June 30.
They Said It:
“Our strategic assemblage, entitlement and development of more than 2 million square feet along the Binney Street corridor laid the groundwork for what has become our second mega campus in Cambridge. Additionally, our acquisition of more than 1 million rentable square feet at Technology Square in 2006 was crucial to the substantial redevelopment of Alexandria Technology Square.”
— Joel S. Marcus, CEO and founder, Alexandria Real Estate Equities Inc.
