Re: Mega-Lab in East Cambridge
sounds like the proverbial house move -- I move into a new house leaving my old house to Steve who moves into my old house leaving his old house to Monica ....
This of order 1 m sq ft biotech co's doing the dance as Vertex leaves Cambridge Biogen Idec moves back in
From boston.com
"Biogen Idec Inc. will construct two office buildings as part of its move back to Cambridge, where the biotechnology company is planning an expansive office and research campus to replace the headquarters it opened just a year ago in Weston....George A. Scangos, chief executive, said the return of 530 employees to Kendall Square will put the firm’s entire Massachusetts workforce in a single location - at the heart of a rapidly growing cluster of pharmaceutical companies near Harvard University and the Massachusetts Institute of Technology.
The company wants to break ground on its new office buildings there later this year. One will be a 190,000-square-foot building with an address of 17 Cambridge Center; it will be developed by Boston Properties. The other will contain about 305,000 square feet across Binney Street and will be developed by Alexandria Real Estate Equities Inc., which is planning to construct five new buildings in the area in coming years....With its new structures, Biogen Idec will have its 2,000 Massachusetts employees in six buildings in Kendall Square...East Cambridge will see 1.5 million square foot of construction get underway in the next six to seven months,’’ said Steve Purpura, a partner with the real estate firm Richards Barry Joyce & Partners. “In any other market, you lose a tenant like Vertex, and everyone is running for cover, but Cambridge didn’t miss a beat......“The trend is toward more urban-based developments,’’ Purpura said. “That’s where we’re going to see the next round of projects. The question is, what does it all mean for 128?’’