Biotech company Biocytogen leases full floor at 300 Third Avenue in Waltham
Boston–– Lincoln Property Company (LPC) and MetLife Investment Management (MIM) announced that global biotechnology company Biocytogen has leased 36,911 square feet of laboratory and office space at 300 Third Avenue in Waltham, MA.
Tim Latham, Christopher Scott and Chris Devaux of LPC represented the property. Tim Allen and Curtis Cole of Colliers represented the tenant in the transaction.
Biocytogen plans to move from its current location in Wakefield to occupy the entire sixth floor of 300 Third. The Beijing-based life science company focuses on gene editing services (RenMab® and RenLite®), preclinical testing and antibody development services. The tenant will begin construction of its new US headquarters later this quarter.
“We are delighted to welcome Biocytogen to 300 Third and excited to offer another tenant to Waltham’s biotech hub,” said Scott Faber, senior vice president at LPC. “Given the current market dynamics, we continue to see strong interest from life science tenants focusing on Waltham, given its tremendous accessibility for their employees and the wealth of amenities nearby. .”
As the suburbs immediately west of Cambridge continue to be the main stop for overflow demand, the life sciences market in Waltham has grown to over four million square feet. According to MassBio’s 2021 Biopharmaceutical Funding Report, Waltham-based biopharmaceutical companies received more than $1.08 billion in venture capital funding last year, ranking only behind Cambridge and Boston.
“We are delighted to welcome Biocytogen as 300 Third’s first tenant as we move toward the final stages of construction completion,” said Trina Childs, Northeast Region Asset Manager. M.I.M. “We look forward to adding other leading life science companies to this world-class laboratory and office development. »
300 Third Avenue is a 143,533 square foot purpose-built development with four floors of lab space and 441 on-site parking spaces. DiMella Shaffer, a Boston-based architecture and design firm, and AHA Consulting Engineers, a Cambridge-based MEP/FP engineering firm, designed a flexible space with a high level of efficiency from mechanical storage areas, chemical and utility to serve the most rigorous laboratory occupants. The project is aiming for LEED Gold certification and has achieved Wired Gold certification for providing top-notch connectivity, infrastructure and technology readiness.