Alexandria Buys Chunk Of Kendall Square Lab Building For $120M
Alexandria Real Estate Equities has acquired part of a lab building for $120M in Kendall Square.
The real estate giant bought part of the third floor and the entirety of the fourth floor of 1 Hampshire St. from Schlumberger Ltd., according to the Middlesex County Registry of Deeds.
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.
In February, Eli Lilly signed a lease for 334K SF of lab space in the Seaport in a build-to-suit with Alexandria. The 12-story lab building at 15 Necco St. is expected to be occupied by 2024.
