Biogen Inc. plans to move its headquarters into a 16-story Kendall Square tower to be developed by MIT and BioMed Realty, the Boston Business Journal reported. The 15-year lease is for 580,000 square feet.
The company will occupy the entirety of the first building that will go up in MIT’s Kendall Common, a 10-acre mixed-use development that the university’s real estate arm is set to build on what was the Volpe transportation complex. The relocation would consolidate the biotech giant’s once-sprawling operations in the neighborhood.
The move is expected to take place in 2028, after the construction of 75 Broadway is complete. The Business Journal first reported in December that MIT and Biogen were in advanced negotiations on a lease. The involvement of BioMed, a Blackstone affiliate, was revealed Monday. The lab developer is joining with MIT on 75 Broadway, but not on other aspects of Kendall Common, which ultimately will encompass eight buildings.
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