Massachusetts’ largest life science employer will occupy BioMed Realty’s new 600,000-square-foot lab tower at 585 Third St. in Kendall Square upon completion in 2026.
Takeda said the new full-building lease is part of a strategy to establish a single Cambridge R&D campus in Kendall Square. The Japanese pharmaceutical giant occupies lab buildings in Lexington, Central Square and Kendall Square, including the recently-renovated 500 Kendall St.
“This significant lease is proof of the growing need for essential infrastructure that enhances collaboration and helps advance vaccine and drug discovery,” BioMed Realty President of East Coast and U.K. Market Bill Kane said in a statement.
BioMed announced last year that Cambridge-based Global Arts Live will program the arts component of the project, which is being built on a parcel that was previously approved for the Constellation Center cultural center. The building will include 15,000 square feet of public space and a 300-seat theater.
CBRE represented BioMed Realty and Cushman & Wakefield represented Takeda in the transaction. Completion of the 16-story tower designed by CBT Architects is scheduled for 2026.