100,000+ SF in Waltham supports biotechnology company's growth
BOSTON, MA / ACCESSWIRE / September 14, 2021 / The Boston office of Cresa, the world's largest occupier-focused commercial real estate firm, announced today that it has negotiated a long-term lease commitment for over 100,000 SF at Centerpoint, located at 41 Seyon Street in Waltham, Mass. on behalf of Generation Bio Co., a biotechnology company innovating genetic medicines to provide durable, redosable treatments for potentially hundreds of millions of patients living with rare and prevalent diseases. While its headquarters will remain in Cambridge, Generation Bio will use the new space to build an in-house cGMP- (current good manufacturing practice) compliant facility to scale closed-ended DNA (ceDNA) manufacturing using rapid enzymatic synthesis (RES). The facility will be designed to provide cGMP-compliant clinical and initial commercial supply and also house expanded capacity for research production and process development activities. Cresa provided workplace solutions, labor and financial analytics, transaction management, and stakeholder decision support, resulting in a holistic strategy and ultimately an excellent outcome for Generation Bio.
"Cresa brought a fresh perspective to our search for a mission critical cGMP manufacturing facility that could accommodate our novel rapid enzymatic synthesis at commercial scale," said Geoff McDonough, M.D., chief executive officer of Generation Bio. "Their consultative process and approach allowed us the time necessary to make the right decision for our medium- and long-term needs."
The company has signed a lease agreement to build out a state-of-the-art cGMP facility to scale RES for clinical and initial commercial supply. In addition, the new facility will house expanded capacity for research production and process development activities. The facility is expected to be operational in 2023, enabling an Investigational New Drug (IND) application and clinical development for the company's lead hemophilia A program in 2023. The company is using existing infrastructure for RES production of research material.
The 30-acre, 600,000 SF Centerpoint campus was recently repositioned by HRP to appeal to growing life science companies. This multi-building adaptive re-use now includes world class infrastructure and amenities, including a state-of-the-art fitness center, café, outdoor space, multiple conference and collaboration spaces, gaming and golf simulator areas, indoor bike storage and ample parking. Additionally, Centerpoint offers excellent access to public transportation, including a direct private shuttle to the Harvard Square Red Line.
Paul Delaney, Vicki Keenan, and John Coakley of Cresa Boston negotiated the lease for Generation Bio, and Matt Malatesta, Mark Roth, Brendan Daly, and Brianna Piacitelli of Newmark represented the landlord (HRP).
The project team includes:
- Client: Generation Bio
- Landlord: Hilco Redevelopment Partners
- Architect: TRIA
- Construction Manager: Commodore Builders
- OPM: Hereva
About Cresa
Cresa is the world's largest commercial real estate advisory firm that exclusively represents occupiers and specializes in the delivery of fully integrated real estate solutions. Offered across every industry, services include Consulting, Facilities Management, Global Portfolio Solutions, Investment Banking, Lease Administration, Location Strategy & Economic Development Incentives, Project Management, Transaction Management and Workplace Strategy. With over 1000 employees in more than 80 offices globally, Cresa partners with space occupiers everywhere. For more information, visit: www.cresa.com/boston.
About HRP
HRP is a vertically integrated real estate investment and development company focused on life science, industrial, and mixed-use properties across the United States. HRP is committed to sustainable redevelopment through best-in-class environmental practices, community engagement, and local economic development. Hilcoredev.com
About Newmark
Newmark Group, Inc., together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
Media Contact:
Susan Shelby, FSMPS, CPSM
Rhino PR for Cresa Boston
cresaboston@rhinopr.com
978.985.4541
SOURCE: Cresa Boston
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