Alphabet’s Biotech Subsidiary Subleases 100K SF From Verizon At New 31-Story Boston Tower
Verily last quarter subleased 109K SF from Verizon on the 23rd through 26th floors of the 100 Causeway St. project, part of major mixed-use development The Hub on Causeway.
The sublease was first revealed in CBRE's Q1 market report, released Monday, and a Verily spokesperson confirmed it to Bisnow. Verily has a Boston office at 100 Summer St., which it shares with Google and other Alphabet subsidiaries, and it aims to occupy the new space by the end of this year, the spokesperson said.
"This new office space will be the hub for Verily Health Platforms, a family of businesses focused on innovative health care delivery solutions, Onduo, a Verily company focused on personalized virtual care, and Terra, a scalable, secure and open-source platform driving greater collaboration in biomedical research co-developed with Verily and the Broad Institute of MIT," the spokesperson wrote in an email.
Verily, the life sciences arm of Google parent company Alphabet, in December 2020 raised $700M to expand its commercial business, CNBC reported at the time. In October, Verily announced the opening of a new office in Dallas.
Verizon in 2018 signed a 20-year, 440K SF lease to anchor the 100 Causeway St. building. Boston Properties and its partner, Bruins parent company Delaware North, completed the 634K SF office tower in Q3 2021, and Verizon took occupancy of the space that quarter, executives said on an October earnings call.
Verizon and Boston Properties didn't respond to requests for comment on the sublease.
The office tower also landed leases with the Celtics and Bruins, with entities representing the teams signing on for 34K and 53K SF, respectively, in 2020.
The first two phases of the Hub at Causeway development opened in November 2019. The phases featured a 145K SF office building occupied by software company Rapid7’s headquarters, a 38-story apartment tower branded as HubHouse and a 60K SF Star Market grocery store.
“The Hub combines the best of Boston’s sports, dining and live music as well as provides jobs and housing at the northern gateway to the city,” Boston Properties Executive Vice President Bryan Koop said in a November 2019 statement.