Moderna Inks Deal For New 426K SF Headquarters In Kendall Square
Moderna, an mRNA pioneer buoyed by its successful Covid-19 vaccine rollout, will have a new headquarters in the heart of the nation's leading life sciences cluster.
The biotechnology firm signed a lease to occupy 462K SF at Alexandria Real Estate Equities' 325 Binney St., an under-construction building at the Alexandria Center at One Kendall Square megacampus, the companies announced Thursday.
Construction of the site, to be called Moderna Science Center, is expected to complete in 2023, when Moderna plans to begin a phased move-in. No terms were disclosed in the announcement.
Moderna has long been an Alexandria tenant and client. ARE owns the Norwood campus where Moderna manufactures most of its U.S. Covid-19 vaccine supply.
“Moderna is a tremendous example of a highly disruptive, visionary company that has grown with Alexandria,” Alexandria Chairman Joel Marcus said in a statement. “Shortly after Moderna was founded in 2010, we identified the team and the transformative potential of its pioneering mRNA platform, and we have both invested in and provided the company with mission-critical real estate over the past 10 years."
The forthcoming corporate headquarters and research and development facility at 325 Binney St. seeks to be one of the most sustainable life sciences facilities on the market.
The plan is for a net-zero commercial lab, relying on geothermal energy and on- and off-site renewable power. The development aims to achieve LEED Zero Energy and Fitwel certifications. Life sciences facilities are increasingly evolving to feature advanced sustainability measures and other amenities meant to attract top talent in an increasingly competitive field.
The new site would replace Moderna’s existing Cambridge headquarters at 200 Technology Square. The company is banking heavily on the potential of mRNA technology to create new breakthrough vaccines and therapies and has 22 programs in clinical trials.
Alexandria has been focused on Cambridge and Kendall Square this year, having spent $815M to acquire One Rogers Street and One Charles Park in East Cambridge in June. JLL represented Moderna in its search for a new headquarters.