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Courtesy of Beal
A rendering of the One Kenmore Square redevelopment from Related Beal.
Related has secured a coveted life sciences tenant in its major Kenmore Square project.
Gritstone bio Inc., a California-based biotechnology company that develops immunotherapies against cancer and infectious diseases, will lease 75,000 square feet at the Beacon Building in One Kenmore Square, Related said Wednesday. The agreement represents a significant commitment to the life sciences in the Kenmore Square and Fenway neighborhoods, animated by the construction of laboratories.
“As our team continues to recruit new members to support these programs, our need for state-of-the-art laboratories and offices becomes more critical than ever,†said Matthew Hawryluk, Commercial Director of Gritstone, in a statement.
The company, which is listed on the Nasdaq Stock Exchange, has an office in Cambridgeport 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-tech maker Whoop signed a 121K SF lease in the adjacent Commonwealth Building in May. The location is ideal for emerging biotech and medical companies due to its proximity to Kendall Square and Longwood Medical Area, Patrick Sweeney, managing director of Related Fund Management, said in a statement.
Gritstone will occupy the fifth and sixth floors of the Beacon Building and part of the seventh. Related bought the two buildings and other properties from Boston University for $ 140 million in 2016.
The buildings, totaling 326,000 square feet, overlook the Kenmore Square MBTA bus and subway stations and are capped with the iconic Citgo sign, which Related negotiated with Citgo Petroleum Corp. in 2018 to remain in place for at least 30 years.
The Related Area Laboratory Pipeline includes a 375,000 SF Life Sciences Campus and a 486,000 SF Lab Conversion at 451 D St. in the Seaport and a partnership with Jamestown to redevelop the center building innovation and design of 1.4M SF from the port.
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