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Image courtesy of Related Beal
A publicly-traded biotech has signed on as the first life science tenant at Related Beal’s One Kenmore office-lab redevelopment in the Fenway.
Cancer and infectious disease researcher Gritstone bio will occupy 75,000 square feet on three floors in the 198,000-square-foot Beacon building. Emeryville, Calif.-based Gritstone has local offices at 40 Erie St. in Cambridgeport.
One Kenmore received its first lease commitment from Fenway-based fitness tracker manufacturer WHOOP last year, which leased 121,000 square feet in the neighboring Commonwealth building for its new headquarters.
The 1.3-million-square-foot Fenway/Longwood Medical Area lab market currently has a 0-percent vacancy rate, according to JLL’s second-quarter Life Sciences Insight report, with average asking rents of $97.41 per square foot. The submarket has 1 million square feet of space under development, including projects such as One Kenmore and the 201 Brookline Ave. lab tower on the Landmark Center property.
Additional life science projects set to begin or seeking approval include the Fenway Center air rights project, 109 Brookline Ave. and the Boston Red Sox’s 2.1-million-square-foot redevelopment of the area surrounding Fenway Park in partnership with WS Development and Twins Realty Venture LLC.
