Lexington Lab Campus Loses One Tenant As Another Grows By 61K SF
A Lexington lab building saw a string of activity last week, as one biotech tenant more than doubled its footprint and another revealed plans to move out.
Cambridge-based gene therapy company Voyager Therapeutics announced plans to expand at 75 Hayden Ave. in Lexington, leasing an additional 61K SF, according to an Aug. 11 Securities and Exchange Commission filing. The company already leases 32K SF of offices and labs in the building.
Voyager also said it expects to move some of its operations from its Cambridge facility at 64 Sidney St. to the Lexington building. The lease is expected to begin Feb. 1.
The filing on its expansion came the same day another biotech company revealed plans to terminate its lease at the building.
Frequency Therapeutics said it plans to terminate its lease at 75 Hayden Ave. seven years early and terminate a sublease agreement it had with SalioGen Therapeutics for 30K SF, according to securities filings.
Frequency and the building's landlords, Healthpeak Properties and King Street Properties, agreed to terminate the lease on Jan. 31, 2024. It was previously scheduled to expire on May 31, 2031. The company won't pay costs for the early termination, according to the filing.
On Jan. 7, 2020, Frequency signed a lease for 61K SF on the third floor of the facility, according to a lease summary filing with the SEC. The same year, the building was reported by the Boston Business Journal to be fully leased to four tenants, including Voyager.
“This is a purpose-built lab building,” King Street Executive Director Michael Diminico told the BBJ in September 2020. “We drew huge interest from all over — tenants that were looking in Cambridge and couldn’t find space, tenants who were in the suburbs and wanted to move to a more Class A campus setting.”
King Street, Frequency and Voyager didn't respond to Bisnow's request for comment.
The lab building is part of the joint venture's 610K SF Hayden Research Campus. In 2017, Healthpeak acquired the four-building campus from King Street and The Carlyle Group for $228M. King Street stayed on as a joint venture partner.
