News
All Eyes on Hep C
May 2, 2011
| Rarely have CRE folk watched FDA drug approvals as closely as they're following Vertex? telaprevir. In the balance hangs the decision to build nearly 1M SF of new office/lab space in the Seaport District. On Thursday, the excitement mounted as the hepatitis C treatment won a preliminary green light. |
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| An FDA advisory committee unanimously recommended approval of the Cambridge-based firm's therapy, with the final FDA decision expected by May 23. If it's a go, Vertex may turn its non-binding LOI into an agreement to lease two new build-to-suites designed by Tsoi Kobus and Elkus/Manfredi (above) on Fan Pier at the Boston waterfront in '13. JLL?s Ben Heller tells us the deal represents a net gain since Vertex would be moving to Boston in a relo from Cambridge, which has major life science cred. As a lab/research tenant, Vertex also represents a new tenant base for the Seaport, Ben says. If the project gets into the ground, it will boost the already mounting momentum of activity in the Seaport. |
