Related Lands First Lab Tenant At One Kenmore Square
California-based Gritstone bio Inc., a biotechnology company developing cancer and infectious disease immunotherapies, will lease 75K SF at One Kenmore Square’s Beacon Building, Related announced Wednesday. The deal represents a significant life sciences commitment in the Kenmore Square and Fenway neighborhood bustling with lab construction.
“As our team continues to bring on new members to support these programs, our need for state-of-the-art lab and office space becomes more crucial than ever,” Gritstone Chief Business Officer Matthew Hawryluk said in a statement.
The company, which is listed on the Nasdaq stock exchange, has a Cambridgeport office just under 2 miles from Kendall Square and is headquartered in Emeryville, California.
The Gritstone lease is Related’s first tenant at the Beacon Building, a 198K SF life sciences property. Wearable health technology maker Whoop in May signed a 121K SF lease at the adjacent Commonwealth Building. The location is ideal for emerging biotech and medical companies because of its proximity to Kendall Square and the Longwood Medical Area, Related Fund Management Managing Director Patrick Sweeney said in a statement.
Gritstone will occupy the Beacon Building’s fifth and sixth floors and a portion of the seventh. Related purchased the two buildings and other properties from Boston University for $140M in 2016.
The buildings, totaling 326K SF, overlook the Kenmore Square MBTA bus and subway stations and are capped by the iconic Citgo sign, which Related negotiated with Citgo Petroleum Corp. in 2018 to keep in place for at least 30 years.
Related’s area lab pipeline includes a 375K SF life sciences campus and a 486K SF lab conversion at 451 D St. in the Seaport and a partnership with Jamestown to redevelop the Seaport’s 1.4M SF Innovation and Design Center Building.