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Takeda Pharmaceutical Co. inked a 10-year lease extension at its 222,025-square-foot R&D center in Cambridge’s Kendall Square.

The extension through March 2040 was executed with “strong rental rate increases,” landlord Alexandria Real Estate Equities announced.

The East Cambridge life science cluster has weathered the biotech industry downturn better than emerging submarkets in Greater Boston, with a vacancy rate of 8.2 percent at the end of 2023, according to CBRE research.

But the submarket had 343,250 square feet of negative absorption over the previous 12 months, and the availability rate was 14.8 at year’s end. Average asking rents were $111.32 per square foot.

The 75-125 Binney St. property was completed by Alexandria in 2015. In 2019, the firm sold a 60 percent share of its ownership for $438 million, or $1,880 per square foot.

Alexandria owned nearly 11 million square feet of life science properties in Greater Boston after selling off development sites and operating properties in 2023 and announcing plans for additional dispositions. The Binney Street complex is part of the 2.8 million-square-foot Alexandria Center at Kendall Square, one of three Cambridge “megacampuses” totaling 5.4 million square feet.