300 Massachusetts Ave./Image courtesy of Cambridge Assessing Department
Takeda Pharmaceutical Co.’s move to its new Kendall Square tower is opening up big new blocks of availability in the Cambridge lab market.
As the pharmaceutical giant prepares to occupy its 585 Kendall Global Research & Development Center, the company is listing a combined 648,153 square feet for sublease.
The properties include 35 Landsdowne St., 40 Landsdowne St. and 300 Massachusetts Ave, CoStar News reported. The company signed a 10-year lease renewal for 75-125 Binney in 2024 but is also listing the Alexandria Real Estate Equities’-owned property for sublease, the BBJ reported.
BioMed Realty is developing the Takeda Pharmaceuticals’ Global Research & Development Center, scheduled to open this year at 585 Kendall St., enabling Takeda to consolidate its East Cambridge real estate.
Takeda signed on as the sole office-lab tenant of the 16-story tower known as 585 Kendall, designed by CBT Architects, in 2022. The 600,000 square-foot building also includes a performing arts center, The Takeda Theater at The Platform, which is scheduled to open this spring.
The sublease listings at the 202,423 square-foot 35 Landsdowne St., 214,638 square-foot 40 Landsdowne St. and 231,092 square-foot 300 Massachusetts Ave. are part of BioMed Realty’s University Park property near Central Square.
A spokesperson said the changes will reduce Takeda’s real estate footprint in Massachusetts from 1.56 million square feet to 1.43 million square feet, with remaining locations at 585 Third, 500 Kendall, 650 E. Kendall and 125 Binney St.
Sublease listings comprised nearly 6 percent of the 14.2 million square-foot East Cambridge lab market at year’s end, according to CBRE, representing approximately 838,000 square feet. The availability rate was 20.8 percent.
Takeda’s global R&D, oncology and vaccines divisions are headquartered in Cambridge. The company also has a suburban campus in Lexington at 200, 300, 400 and 400 Shire Way, 55 Hayden Ave. and 125 Spring St.
Editor’s note: This report has been updated with additional information on Takeda’s existing and future real estate footprint in the region and the correct address of the Lexington campus.
