Tishman Speyer affiliate Breakthrough Properties has signed a 263,000 s/f lease with gene editing company, CRISPR Therapeutics, for The 105, a best-in-class laboratory building for tenants at the forefront of life-changing science.
Located at 105 West First Street in Boston and scheduled for completion in early 2022, the building will feature a tailored array of amenities, including a fitness facility and outdoor terraces accessible from two floors.
The full-building lease transaction was executed just one year after acquisition of the site in July 2019 and four months after groundbreaking.
Breakthrough Properties was launched in 2019 by Tishman Speyer and Bellco Capital, a biotechnology investment firm, to acquire, develop and operate life science properties in leading technology centers around the world, supporting scientific innovation across biotechnology, agriculture and nutrition.
On The 105 project, the company has been working closely with Tishman Speyer’s Boston-based team every step of the way, from site selection to future project completion.
The 105 has been designed by the Payette architecture and is seeking LEED Gold and Fitwel certifications.
Breakthrough Properties CEO Dan Belldegrun commented, “Our mission at Breakthrough is to deliver cutting edge facilities and environments that support companies at the forefront of life-changing science. We are thrilled to partner with CRISPR, one of the world’s emerging leaders in the biotech industry, as it continues to develop therapies that change the way we fight disease.
“There has never been a more important time to focus on the scientific innovation and we’re honored to play a small but supportive role in CRISPR’s exciting future.”
Tishman Speyer CEO Rob Speyer added, “With Breakthrough Properties, we are combining Tishman Speyer’s global property development capabilities with Bellco Capital’s recognized life sciences expertise and strong relationships. It’s already proving to be a great collaboration.
“We believe Breakthrough will become a major global player in creating the next generation of research facilities, where important scientific advances will take place to benefit people around the world.”
Since its founding in 2013, CRISPR has grown to be a leading gene-editing company focused on developing transformative gene-based medicines for serious diseases. CRISPR has established a portfolio of therapeutic programs across a broad range of disease areas, including hemoglobinopathies, oncology, regenerative medicine and rare diseases. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Cambridge, Massachusetts, and business offices in San Francisco, California and London, United Kingdom.
Brokerage firm Cushman & Wakefield represented CRISPR, while Breakthrough was represented by Newmark Knight Frank.