CAMBRIDGE, Mass., April 2, 2015 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) continues the strong leasing in March with the announcement of a new ten-year lease with Biogen for approximately 80,000 square feet of Class A laboratory and office space at the company's 301 Binney Street property in Cambridge, Massachusetts. Biogen develops, markets and manufactures therapies for people living with serious neurological, autoimmune and hematologic disorders and will use this new space to expand its drug discovery efforts in this core life science district and is among the largest and fastest growing global life science companies based in Massachusetts.
With the lease of the fifth floor to Biogen, BioMed Realty has fully leased the 417,000 square foot 301 Binney Street property. Biogen joins Ironwood Pharmaceuticals and Living Proof located at this prime laboratory and office building.
"BioMed Realty is pleased to welcome Biogen to our growing list of tenants in Cambridge, and we look forward to building a long relationship with such a strong player in the Kendall Square research community," said Bill Kane, Senior Vice President for BioMed Realty in Boston/Cambridge. "We are seeing a growing demand for life science real estate, especially quality laboratory space, here in Cambridge, and we are focused on developing and leasing this unique type of real estate to companies like Biogen, Baxter Healthcare and the growing number of new biotech companies seeking to develop breakthrough therapies in strategic locations."
The lease of 80,000 square feet with Biogen comes after recent announcements of leases to Reed Elsevier and Akamai Technologies totaling just over 100,000 square feet at the recently renovated 50 Hampshire property. These leases reflect the strong demand for lab and office space in Cambridge market.
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) 753-8661, firstname.lastname@example.org