Alexandria Buys Chunk Of Kendall Square Lab Building For $120M
Schlumberger, a French-German energy technology company, will still own the first and second floors of the building. Draper Laboratory owns the fifth, sixth and seventh floors as well as part of the lower floors, the Boston Business Journal reports.
Alexandria has had a massive influence on Greater Boston’s biotech clusters. The company has over 13M SF of rentable space in the market, according to its website. The California-based REIT owns some massive projects in Cambridge including One Kendall Square and the Technology Square campus. It recapitalized two buildings in Kendall Square, 50 and 60 Binney St., for $1.2B in December.
Alexandria's biotech activity has reached farther out from Cambridge's biotech cluster. In May, Enanta Pharmaceuticals signed a lease with Alexandria to occupy 128K SF of its 1.1M SF redevelopment in Watertown.