BOSTON– Related Beal and Jamestown announced more than 260,000 square feet of life science leasing at the Innovation and Design Building (The IDB) located within the Raymond L. Flynn Marine Park (RLFMP) in Boston’s Eastern Seaport neighborhood.
The deals, which involve the conversion of office space into lab facilities, further the firms’ expertise supporting the life science sector in Boston.
“We continue to see incredible demand for life science space in Boston from leading biotech companies and we’re thrilled for them to conduct important research within the historic Innovation and Design Building,” said Steve Faber, Executive Vice President at Related Beal. “Together with Jamestown, we are serving a critical need in the life science ecosystem by providing first-class R&D space for a variety of users including small and medium sized firms allowing them to grow rapidly and execute their business plans, resulting in tomorrow’s medical breakthroughs.”
“The unique mix and dense concentration of creative and scientific firms at The IDB makes for a truly dynamic environment,” said Dana Griffin, Director of Asset Management and Development for New England at Jamestown. “These deals validate the property as a premier location for the scientific community and continue the property’s legacy as a center of innovation.”
The nine leases will bring more than 700 jobs to Boston’s Eastern Seaport neighborhood and include:
- Entrada Therapeutics, a biopharmaceutical company aiming to transform the lives of patients by establishing a new class of medicines, which leased ~81,400 square feet;
- Shape Therapeutics, a biotech company developing RNA technologies, which leased ~36,500 square feet;
- Jnana Therapeutics, a biotech company focused on developing best-in-class therapies to treat a wide range of diseases, which leased ~36,400 square feet;
- Ratio Therapeutics, a discovery-stage biotechnology company developing best-in-class targeted radiotherapeutics for the treatment of cancer, which leased ~19,000 square feet;
- Vedere Bio II, a biopharmaceutical company developing gene therapy products to restore functional vision to patients who have suffered genetic and non-genetic vision loss, which leased ~18,900 square feet;
- Seeker Biologics, a biotech company focused on developing next generation biologics for the treatment of autoimmune, allergic, and other inflammatory diseases, which leased ~18,300 square feet;
- Elektrofi, a biotech company focused on drug formulation and delivery innovations, which leased ~18,200 square feet;
- Aktis Oncology, a biotech company focused on the development of a new class of targeted radiopharmaceuticals to treat a broad range of cancers, which leased ~17,900 square feet; and
- Hotspot Therapeutics, a biotech company exploring the discovery and development of first-in-class therapies targeting nature’s regulatory sites, which leased ~17,300 square feet.
Jamestown purchased The IDB in 2013 and invested more than $200 million in the revitalization of the building. Since the announcement of Jamestown’s joint venture with Related Fund Management in 2020, the firms have invested substantially more to further enhance the property, in order to attract and retain research-based life science and creative companies. The IDB is now home to the Boston Design Center and a mix of companies including architecture and creative studios, manufacturing, research and development firms, and technology startups.
Related Beal continues to be a leading developer of laboratory and technology research space in Greater Boston. The firm has a long history of expanding and maintaining Boston’s life science presence by attracting revolutionary companies who are engaging in life-saving research and achieving medical breakthroughs. In the RLFMP, Related Beal recently completed iSQ, a 394,000 rentable square-foot, life science campus. Additional projects include South Boston’s 451 D Street, One Kenmore Square, Channelside in Fort Point, which will bring a significant mix of uses including lab, and Presidents Place in Downtown Quincy.
Jamestown is a global, design-focused real estate investment and management firm well known in the industry for its market discipline and mission of revitalizing historic spaces and emblematic buildings into mixed-use innovation hubs and community centers. In addition to The IDB, current and previous large-scale projects include Chelsea Market and the One Times Square in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, and Groot Handelsgebouw in Rotterdam.
