Image courtesy of Gensler

Hobbs Brook Real Estate’s bet on Route 128 life science growth has paid off with  two new leases that bring its 507,000-square-foot office-lab development in Waltham up to 90 percent leased before completion this spring.

R&D tenant Elevate BaseCamp LLC and Australian flu vaccine supplier Seqirus leased a combined 297,032 square feet at the 225 Wyman St. speculative development, which broke ground in 2019.

Waltham-based Hobbs Brook leased 131,000 square feet to Cambridge-based software company Pegasystems in July 2021. The latest leases leave just 54,189 square feet of office space available at the building, which was designed by Gensler with column-free floor plates up to 70,000 square feet and a 60-40 lab-to-office ratio.

“Interest in the Waltham market continues to grow exponentially – it is now a core life science market with proximity to Cambridge,” Don Domoretsky, managing director at JLL, said in a statement.

Elevate BaseCamp is a research and cGMP division of Waltham-based ElevateBio, which moved its headquarters from Cambridge to the newly-redeveloped Post 200 Smith complex in 2020.