Ariad Pharmaceuticals Inc. has signed a deal to lease 244,000 square feet of office and research space at 75/125 Binney St. in Cambridge for 15 years.

The deal is a big win for Pasadena, Calif.-based landlord Alexandria Real Estate Equities Inc.

Ariad will establish a state-of-the-art corporate and R&D headquarters at the property, which Alexandria expects to finish construction on in early 2015.

The pharmaceutical firm is leasing about 63 percent of the 386,000-square-foot life science facility that is still to be built, with additional potential expansion opportunities through June 30, 2014.

"As ARIAD continues to expand its presence both here in Massachusetts, as well as globally, we are pleased to be working with Alexandria on the construction of our new headquarters, which is expected to open by the beginning of 2015," Harvey Berger, Ariad’s chairman and CEO, said in a statement. "Maintaining our corporate presence in Cambridge reaffirms our commitment to this world-renowned life sciences community and continued collaboration with leading academic scientists in the greater Cambridge area. We look forward to our new location in Kendall Square, not far from where we founded the company." 

The 75/125 Binney St. project will be the second ground-up development at the Alexandria Center. Designed as two towers, the flagship facility will be separated by glass terraces purposefully designed to enhance collaboration. The main façade of the property will feature custom rainscreen panels and windows alternating in a way to resemble DNA patterns.