CAMBRIDGE, Mass., March 25, 2015 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today the signing of a new ten-year lease with Akamai Technologies for approximately 67,000 square feet at 50 Hampshire in Cambridge, Massachusetts. Akamai Technologies is a leading provider of cloud services to help enterprises deliver innovative user experiences on any device, and will be using this new office space to expand its presence in this dynamic innovation district.
Akamai is leasing the entire sixth and seventh floors at 50 Hampshire in Cambridge which is being vacated at the end of March 2015. The company is expected to use the space to expand their Cambridge office which serves as its U.S. headquarters.
"BioMed Realty is excited to continue the momentum at 50 Hampshire by helping the global technology leader Akamai grow their presence in an important innovation district like Cambridge," said Bill Kane, Senior Vice President for BioMed Realty in Boston/Cambridge. "By creating an environment of collaboration with great amenities and transportation options, we have better positioned the property to benefit from the strong real estate demand in Cambridge."
As part of BioMed Realty's redevelopment, the building's rentable square footage was increased to just over 200,000 square feet. Last week, BioMed Realty announced that Reed Elsevier leased approximately 33,500 square feet to take the entire fifth floor at 50 Hampshire, and now Akamai has taken two floors measuring approximately 67,000 square feet, which will bring the building to approximately 50 percent leased once the current tenant vacates.
About BioMed Realty Trust
BioMed Realty, with its trusted expertise and valuable relationships, delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 18.0 million rentable square feet. Additional information is available at www.biomedrealty.com. Follow us on Twitter @biomedrealty.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: adverse economic or real estate developments in the life science industry or the company's target markets, including with respect to Cambridge, Massachusetts; and general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate). For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE BioMed Realty Trust, Inc.
Jim Cullinan, Vice President, Marketing, (858) 207-2072, firstname.lastname@example.org