The Kendall Square HQ building of Biogen (225 Binney St, Cambridge) is about to be sold. TIAA-CREF announced Tuesday that its real estate arm will purchase a 70% stake in the building from Alexandria Real Estate Equities. The transaction is worth $190.1M and values the 305k SF building at $271.6M. At $889 PSF, the deal comes in at a higher price than any other deal in the area this year, the Boston Globe reports. Biogen has a long-term lease for the six-story building built by Alexandria. The deal is expected to close in Q4. [Globe]
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