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What: 399 Binney St.
Where: Cambridge
Owner: Alexandria Real Estate Equities
Built: 2016-2018
- Three tenants have committed to occupy space at 399 Binney St., a 164,000-square-foot speculative lab building being developed by Alexandria Real Estate Equities in Cambridge’s Kendall Square.
- Rubius Therapeutics, Relay Therapeutics and Celsius Therapeutics have committed to leases in the building, according to an SEC filing.
- 399 Binney is part of the One Kendall Square campus, which Alexandria acquired for $725 million in 2017 from DivcoWest.
- DivcoWest received permits for the new building in 2016 after two previous owners were unable to obtain approvals from the city of Cambridge amid neighborhood opposition.
They Said It:
“When we bought One Kendall Square, you could never imagine that it would come to market. A lot of these things are serendipitous. They come when a particular seller or money partner decides to part with an asset, they believe it is a good time and we try to respond.”
— Joel Marcus, CEO, Alexandria Real Estate Equities
